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New York silver futures rose above $82 per ounce, up 6.64% on the day.1. Market Trends: Platinum and palladium futures rebounded sharply. The main platinum contract is currently up over 10%, and the main palladium contract is up over 7%. Geopolitical risks remain unresolved, coupled with positive statements from Federal Reserve officials, leading to a rebound in precious metals, with platinum and palladium following suit. 2. Peoples Bank of China: Chinas gold reserves at the end of January were 74.19 million ounces (approximately 2307.567 tons), an increase of 40,000 ounces (approximately 1.24 tons) month-on-month. At the end of December, they were 74.15 million ounces (approximately 2306.323 tons), marking the 15th consecutive month of increases. 3. Federal Reserve Governor Milan stated that interest rate cuts of more than 100 basis points are needed this year, and he is looking forward to Warshs performance. The US House of Representatives passed a funding agreement negotiated by President Trump and Senate Democrats, potentially ending the partial US government shutdown. 4. Geopolitically, tensions in the Gulf region remain high. Negotiations between the US, Iran, and Oman failed to reach an effective consensus, and the possibility of future conflict between the two countries remains. 5. Nan Hua Futures View: In the medium to long term, the foundation for a platinum and palladium bull market remains intact. It is expected that the Federal Reserve will maintain its loose monetary policy stance in the first half of 2026. Central bank gold purchases, safe-haven demand, and increased investment demand will continue to push precious metal prices higher. 6. Guoxin Futures view: Against the backdrop of a global sell-off in risk assets and market risk aversion shifting towards cash rather than gold, the safe-haven premium in the precious metals sector has temporarily subsided. Looking ahead, the short-term trend of platinum and palladium will continue to passively follow the overall sentiment of the precious metals sector. 7. Xinhu Futures view: In the medium to long term, the platinum market has experienced physical shortages for several consecutive years, with limited mine capacity and insufficient capital expenditure. While demand is hampered by sales of traditional gasoline vehicles, we expect the structural gap to persist, driving prices steadily upward. Palladium supply will remain scarce in the medium term, with inventories below multi-year lows and weak buffering capacity. Low inventory + high supply concentration + potential investment inflows make palladium a highly volatile speculative product. (The above content is compiled from publicly available market data and is for reference only, not investment advice.)According to Interfax news agency, the Russian Federal Security Service (FSB) stated that the assassination attempt on General Alexeyev was ordered by Ukraine with the involvement of Poland.Musk: NASA (contracts) only account for about 5% of SpaceXs revenue this year. The vast majority of SpaceXs revenue comes from the commercial Starlink system.February 9th - Spot gold and silver continued their upward trend on Monday, with gold rising slightly above $5,000, driven by a weaker dollar. Investors are focused on key employment and inflation data to be released this week. OANDA senior market analyst Kelvin Wong stated, "This could be due to the short-term intraday correlation between the dollar and gold and silver prices." KCM chief analyst Tim Waterer noted, "Bargain buying also pushed gold prices back above $5,000." Investors anticipate at least two 25-basis-point rate cuts by the Federal Reserve in 2026, with the first cut potentially occurring in June.

S&P 500 Price Forecast – Stock Markets Continue to Worry About Rates

Jimmy Khan

Feb 22, 2023 16:31


Technical Analysis of the S&P 500

The S&P 500 E-mini contract started overnight trading poorly and hasn't been making a lot of sense. Yet, the contract's high level of volatility persists, and as a result, downward pressure is beginning to build. It's important to note that the 200-Day EMA and the 50-Day EMA are located immediately below. Given that they are both rather flat, there may not actually be any momentum.


As it is slightly above the psychologically and structurally significant 4000 level, this may pave the way for a support level to develop in that approximate area. You must keep in mind that earnings season is now underway because it could cause the market to fluctuate. The moving averages and the psychologically significant 4000 level, if we were to break down below them, might drive the futures market and the index itself significantly lower.


It thus creates the chance of a decline down to the 3900 level, where we had experienced some buying pressure. Following that, there comes the 3800 level, which is considerably more significant and will get a lot of attention. When it comes to whether or not the market can save itself, we would be in that general area hanging on by a thread.


The previous two candlesticks have undoubtedly looked pretty bearish, and I think that may have some momentum built up in it. If the market were to flip around and bounce, then it may try to move towards the 4200 level. The minutes from the Federal Open Market Committee meeting, which are released on Wednesday, will undoubtedly also be relevant. This ought to provide traders a good indication of what the Federal Reserve members discussed during the meeting and whether or not there is an overall hawkish mindset or if there are any ice cracks appearing. This will have a significant impact on the market.

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