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"Stocks in the Spotlight"


- Futures -
 March  -- 29 -- 2020

UPDATED WEEKLY

PRECIOUS METALS

GOLD (CMX)  
February 2020
($US per Troy Oz.)
Week Ending

3/29/2020

Closing price
$1,630.60
+129.50
on the week

Gold

SILVER (CMX)
March 2020
(per 100 Troy Oz.)
Week Ending

3/29/2020

Closing price
$1,462.00
+199.00
on the week

Silver futures

PLATINUM (NYM)
April  2020
($US per Troy Oz.)
Week Ending

3/29/2020

Closing price
$738.40
+127.00
on the week





Old Yeller closed at $1,501.10, off -$27.80 on the week and off -$86.20 for March. Silver came in off -$2.05 on the week, closing at 12.63, with resistance at $20 and support at $14.

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


The metals were stronger on the week due the problems surrounding the virus from China. We watched the metals take off over the last year with gold moving from approximately $1295 (4.05.19) to over $1515, a gain of over $220 before backing off a bit. Silver closed at 1508.00 (4.05.19), but up $319  over the same period as gold. 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%).

Gold closed back over $1600 after staying under it for 3 weeks and over the $1300 level for week 39 after staying under it for 11 weeks, and over the $1200 level for week 166 after staying under it for 1 week.

 
CURRENCY

British Pound
(In US Dollars)

Week Ending

3/29/2020
Closing price
1.2449

0.07964
on the week
(0.8033) pounds for the dollar)
-0.05490

The euro vs the dollar

Euro
(In US Dollars)

Week Ending

3/29/2020
Closing price
1.1164

0.04480
on the week
(0.8957) euro for the dollar)
-0.03745

The euro vs the dollar

Japanese Yen
(In US Dollars)

Week Ending

3/29/2020
Closing price
0.009271

0.000255
on the week
(107.86) yen for the dollar)
-3.0484

The yen vs the dollar


The dollar was weaker against the currencies due to the recent drop in interest rates and ,as investors fear over the virus that's heading around China and around the world.  The yen is currently under resistance of .0095 leaving the next support at .0090 and next resistance at.0095.

It seems the dollar is mostly caught in a trading range because of the growing Pres. Trump economy. 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.

The Feds recently dropped interest rates another one 1.00 basis points, with no inflation insight and no signs of a recession as far as the eye can see.

OIL - LIGHT CRUDE

LIGHT CRUDE (NYM)
April
- 2020
($US per bbl.)
Week Ending

3/29/2020

Closing price
$21.84
-$1.80

Future oil prices




Friday's close (April's futures) is $21.84, off -$120 80 a barrel, versus the week before at $23.64. 205 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 $21 a barrel 02/08/02 when it closed at $20.38.

Oil prices closed back under the $60 level for week 12 after staying over for 4 weeks after staying under 21 weeks and under the $50 level for question five weeks after staying over it for 53 weeks. There was resistance at $45 per barrel with support at $28. Recent news tells us there appears to be much oil available. I'm betting the price per barrel will have trouble staying near the $20 level for very long, with the chance to drop into singles digits but highly unlikely.

Currently due to the confusion in oil-producing countries, 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 bit.


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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