Stocks in the Spotlight futures

"Stocks in the Spotlight"

- Futures -
August -- 28 -- 2020
UPDATED WEEKLY

PRECIOUS METALS

GOLD (CMX)
August 2020
($US per Troy Oz.)
Week Ending
8/28/2020

Closing price
$1,972.60
+25.20
on the week

Gold

SILVER (CMX)
September 2020
(per 100 Troy Oz.)
Week Ending
8/28/2020

Closing price
$2,760.00
+72.80
on the week

Silver futures

PLATINUM (NYM)
October 2020
($US per Troy Oz.)
Week Ending
8/28/2020

Closing price
$940.70
+14.40
on the week

Old Yeller closed at $1,972.60 up $25.20 on the week and off -$21.40 for August. Silver came in up $0.72 on the week, closing at 26.88, with resistance at $20. Silver has 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.

2017

up $39.00 for January,
up $67.00 for February,
off -$10.60 for March,
up $22.10 for April,
off -$2.80 for May,
off -$33.40 for June,
up $27.60 for July,
up $27.50 for August,
off -$14.00 for September,
off -$7.90 for October,
up $12.70 for November,
up $17.80 for December.

2018

up $43.60 for January,
off -$18.20 for February,
off -$3.20 for March,
off -$3.20 for April,
off -$23.50 for May,
off -$46.40 for June,
off -32.00 for July,
off -15.30 for August,
off -10.79 for September,
up +39.20 for October,
off -$12.00 for November,
up $55.60 for December.

2019

up $38.60 for January,
up $28.20 for February,
off -$39.90 for March,
off -$19.75 for April,
up $21.40 for May,
up $102.30 for June,
up $6.00 for July,
up $110.70 for August,
off -$26.20 for September,
up $3.70 for October,
off -36.30 for November,
up $45.20 for December.

2020

up $72.90 for January,
off -$1.02 for February,
off -$86.20 for March.
up $63.90 for April,
off -$14.10 for May,
up $55.70 for June,
up $209.20 for July.

The metals were stronger on the week due to a stronger economic future, along with a stronger dollar, but if the dollar increases and interest rates stay down we could see the metals back off. If wanting into the metals waiting for a pullback might still be the better bet.

The total gain/loss for the entire year:

2011 at $1568.80, up $147.40 (10.37%),
2012 at $1655.90, up $89.10 (5.69%);
2013, at $1202.30, off -$453.60 (-27.30%);
2014, at $1184.10, off -$18.20 (-1.51%);
2015, at $1060.50, off -$123.60 (-9.50%) and
2016, at $1152.00, up +$91.50 (+7.94%)
2017, at $1305.10, up +$153.10 (+13.28%)
2018, at $1283.40, off -$21,70 (-0.16%)
2019, at $1555.20, up +$232.20 (+14.09%).

CURRENCY

British Pound
(In US Dollars)
Week Ending
8/28/2020
Closing price
1.3350

0.02570
on the week
(0.7491) pounds for the dollar)
-0.01470

The euro vs the dollar

Euro
(In US Dollars)
Week Ending
8/28/2020
Closing price
1.19055

0.010896
on the week
(0.8399) euro for the dollar)
-0.007758

The euro vs the dollar

Japanese Yen
(In US Dollars)
Week Ending
8/28/2020
Closing price
0.009488

0.000037
on the week
(105.40) yen for the dollar)
-0.4077

The yen vs the dollar

The dollar was lower against the currencies due to strong economic news. The yen is currently under resistance of .0095 leaving the next support at .0090 and next resistance at.0095.

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.

OIL - LIGHT CRUDE

LIGHT CRUDE (NYM)
October - 2020
($US per bbl.)
Week Ending
8/28/2020

Closing price
$42.93
0.68

Future oil prices

Friday's close (October's futures) is $42.93, up $0.68 a barrel, versus the week before at $42.25. 227 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 33 after staying over for 4 weeks, under the $50 level for 26 weeks after staying over it for 53 weeks. There is some resistance or support at the $45 per barrel level. Recent news tells us there appears to be much oil available. I'm betting the price per barrel will have trouble staying over the $40 level much longer.

Currently due to the confusion in oil-producing countries, the weak dollar, along with the differences between Russia and Saudi Arabia, and along with 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 lower prices will be with us for a while.

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!

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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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