GOLD
(CMX) |
|
SILVER
(CMX) Closing price |
|
PLATINUM
(NYM) |
|
Old Yeller closed at $1,783.10 off -$41.70 on
the week and off -$25.00 for February. Silver came in off -$0.08 on the week,
closing at 27.37, with resistance at $20. Silver had been doing nothing
more than screaming nonstop but the question is still how much more
room there might be at the top?
Closing monthly gold prices.
The total gain/loss for the entire year: 2011 at $1568.80, up $147.40 (10.37%), |
British
Pound 0.01568 |
|
Euro -0.000396 |
|
Japanese
Yen -0.000059 |
|
The dollar was mixed
against the currencies due to strong economic news and markets near the high. The yen is currently pressing resistance of .0095 leaving the
next support at .0095 and next resistance at.0099. I expect the dollar to remain mixed until we learn more about the virus but increase once that situation is solved as we return to the improving economy and I would expect oil and metals to work lower. Keep in mind all of the things can change drastically under a Biden administration and the best guess is they will change to the worse. |
LIGHT
CRUDE (NYM) Closing
price |
|
Friday's
close (April's
futures) is $59.04, -0.69 a barrel, versus the week before at $59.73. 240 weeks ago, 1.15.16, was the first time under $30 since 10.31.03 when it closed at $29.11. The record "weekly"
closing high is $145.08 a barrel on 7/11/08. The last time under $19 a barrel 01/18/02 when it closed at $18.66. Oil prices closed back under the $60 level for week 50 after staying over for 4 weeks, over the $50 level for week 6 after staying under it for 38 weeks. There is some resistance or support at the $45 per barrel level. Recent news tells us there appears to be much oil available. Depending on Pres. Biden doing stupid things we could have higher-priced oil for a long time. Currently due
to the confusion in
oil-producing countries, the weak dollar, along with Joe Biden doing
everything in his power to destroy oil, the differences between Russia
and
Saudi Arabia, and how long the virus will last and
how bad it will get makes it impossible to solve the near-term
direction.
I do believe that higher prices could be with us for a while, as Biden
slaughters oil. |
Oil prices effect the entire world because, in one way or another, we all use oil Crude Oil prices were at a low of $11.26 a barrel in February of 1999. |
I'm J.R. Budke and this is my opinion!
MEMBER LIST |
J.R. Budke has been a stock broker since 1981, an options principle since 1982 and a branch office manager since 1987. He is currently inactive as a stockbroker as of 12/31/99. J.R. has been writing the articles and opinions for the Stocks in the Spotlight, in conjunction with the editor B.G. Santos, since 1990. The stories and stocks found on this site, or any "Stocks in the spotlight" written material, are the opinions of J.R. Budke unless other wise stated and are opinions only and are not to be construed as advice. You should not purchase any stocks solely on the opinions found on the "Stocks in the Spotlight's" web site or in any of it's written material. You should also be aware that options are not for everybody and carry a high degree of risk. You should always consult with your broker or investment advisor before purchasing any stock. |
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