• 4 minutes U.S. Shale Output may Start Dropping Next Year
  • 8 minutes Read: OPEC WILL KILL US SHALE
  • 12 minutes Tidal Power Closer to Commercialisation
  • 16 minutes Washington Eyes Crackdown On OPEC
  • 2 hours Why U.S. Growers Are Betting The Farm On Soybeans Amid China Trade War
  • 2 hours Trump to Make Allies Pay More to Host US Bases
  • 4 hours BATTLE ROYAL: Law of "Supply and Demand". vs. OPEC/Saudi Oil Cartel
  • 2 hours US-backed coup in Venezuela not so smooth
  • 14 hours Solar to Become World's Largest Power Source by 2050
  • 1 day Sounds Familiar: Netanyahu Tells Arab Citizens They’re Not Real Israelis
  • 5 hours Biomass, Ethanol No Longer Green
  • 21 hours THE DEATH OF FOSSIL FUEL MARKETS
  • 1 day Can OPEC CUT PRODUCTION FOREVER?
  • 1 day Boeing Faces Safety Questions After Second 737 Crash In Five Months
  • 1 day this is why Climate Friendly Agendas Tread Water
  • 19 hours Exxon Aims For $15-a-Barrel Costs In Giant Permian Operation

Breaking News:

Tesla Wants To Enter India Soon

Alt Text

Peak Lithium Won’t Happen Anytime Soon

Peak lithium is not happening…

Alt Text

This Year, Everyone Will Love Uranium

Utilities have been buying uranium…

Alt Text

As Diesel Dies, One Commodity Is Crashing

Platinum futures plunged to 14…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

Follow the Platinum-Brick Road

Exciting couple of days on the market.

With the Dow having its worst intra-day drop ever yesterday, most of the commodities got trashed.

Over May 4 and 5, outstanding silver contracts on the NYMEX fell 3%. Copper contracts fell nearly 7% over the last three days.

Copper Contracts

Interestingly, gold held strong. Open interest actually jumped 2%. The support helped bullion break $1200/oz today.

Gold Contracts

Overseas, the action has been a little different. Gold contracts on the Tokyo Commodity Exchange plunged 5% yesterday.
In Japan it's been platinum that's held fast. Pt contracts have been on a tear since April 27, with open interest up 15%.

Platunim Contracts

Some of this strength may be related to platinum-backed ETFs recently introduced in Japan. Palladium, another recently "ETF-ized" commodity, has also been strong. With open interest up 10% over the last two weeks.

Platinum has traditionally been the investment metal of choice for the Japanese. If the current economic troubles persist, we'll see if they keep following the platinum-brick road.

Here's to the other gold.

By. Dave Forest of Notela Resources




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News