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Commodities Cracking

Commentaries & Views

OPEC members wanted higher oil prices so they tried to control price; oops, crude is down 30% since OPEC intervened. Grain markets are under pressure along with the metals; obviously commodities have become worthless.  Obviously the Fed, central banks around the world and OPEC have no clue.

Gold and silver appear to have found some support on Tuesday and are slightly higher. The trade in the metals has been ugly and has violated our support levels, but they are now at secondary support and a must-hold area if this recent run is going to hold

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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