Energy and Precious Metals Events for 01/20/23
The focus is on the data on oil rigs from Baker Hughes and speculative positions on oil and gas, gold and silver.
21:00 GMT+3 – U.S. Baker Hughes Oil Rig Count. Forecast: –. Previous value: 623
21:00 GMT+3 – U.S. Baker Hughes Total Rig Count. Forecast: –. Previous value: 725
23:30 GMT+3 – CFTC Crude Oil speculative net positions. Forecast: –. Previous value: 205.2K
23:30 GMT+3 – CFTC Natural Gas speculative net positions. Forecast: –. Previous value: -172.5K
23:30 GMT+3 – CFTC Gold speculative net positions. Forecast: –. Previous value: 150.5K
23:30 GMT+3 – CFTC Silver speculative net positions. Forecast: –. Previous value: 29K
More information is provided by the economic calendar.
At the present time, the cost of gold is firmly entrenched at $1,900 dollars per ounce. That mark is already very close to a possible maximum predicted by analysts. That kind of dynamics is driven by noticeable dollar weakening and decrease in the yields of the U.S. government bonds.
27 JanuaryAccording to expectations of strategists of the Internationale Nederlanden Groep, gold will grow in 2023.
27 JanuaryThe U.S. economy unfolded more actively in the fourth quarter than analysts might have expected. However, domestic demand grew at the slowest pace in 2.5 years, reflecting the impact of higher credit costs.
27 JanuaryThe U.S. strategic petroleum reserve (SPR) decreased by more than 40% in two years. The reserves were 371.57 million barrels on January 20, compared to 638.08 million barrels a year ago.
27 JanuaryThe European Union plans to implement a $100-per-barrel limit on Russian diesel fuel.
27 January