Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at rising gun and ammo prices. (See the Economy & Finance section and the Tangibles Investing section.)
Precious Metals:
Silver price falls 7% on vaccine news, but here’s key difference between gold and silver
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Gold Price Forecast: Gold Plummets Towards New Target. The article begins:
“I saw the potential for market-changing news over the weekend, but I did not expect it to be on the vaccine front. Pfizer announced a successful vaccine, and gold is plummeting.
Our cycles supported a turning point in precious metals around November 6th (+/- a few trading days). I assumed it would time a low aligned with our 6-month target. Today’s market action to the vaccine suggests that instead of a low – gold inverted and formed a high overnight. The election fiasco kept gold elevated long enough to force the cycle to invert. Subsequently, gold pushed its 6-month low into the last half of December.”
Economy & Finance:
Seeking Alpha reports: Tesla Just Put The Accelerator Down On The EV And Battery Boom
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And at Yahoo Finance: Negative yields may be coming to U.S.: Guggenheim CIO Minerd
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Gunmaker Stocks Soar at Prospect of Biden Victory. JWR’s Comment: As the article mentions: the prices of guns are expected to also rise. I anticipate that the biggest price increases will be for semi-auto rifles. A “Plain Jane” AR-15 may be selling for $2,000+, in January. I trust that my readers have stocked up on guns, stripped AR lowers, magazines, and ammunition. Your return on investment will likely exceed that of the best performing stocks.
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At Wolf Street: State of the American Debt-Slaves, Q3 2020: The Stimulus & Forbearance Phenomenon
Commodities:
Copper MMI: Copper price reaches 28-month high.
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OilPrice News reports: Citibank Forecasts $49 WTI For 2021. Here is an excerpt:
“Two months ago, Citi was expecting oil prices to recover to $60 a barrel by the end of next year as the oversupply will have been drawn down by then, as major investment banks and analysts were fairly bullish on oil.
However, the surge in COVID-19 infections in recent weeks and the renewed lockdowns and curfews in major European economies—including France, the UK, Italy, and Germany—are pressuring oil prices downwards as the rebalancing of the oil market is once again slipping to a later than initially expected time.
In its note on Monday, Citi said that prices would be supported by OPEC+ not easing the cuts from January, as currently planned. The group will likely extend the cuts as-is through the end of the first quarter of 2021, according to Citi.”
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AAA Mid-Atlantic: Gas Prices At Lowest Levels Since 2004
Derivatives:
OTC derivatives not immune to Covid-19 market turmoil
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Forex & Cryptos:
Post-Election USD Sell-off Plummets to Critical Support- Gold False Breakout Risks Deep Losses
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When I last checked (Thursday evening), it took $16,460 USD to buy one Bitcoin. Buckle up.
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FUD or regulatory change? Rumor clouds swirl around crypto exchanges
Tangibles Investing:
AMMO, Inc. Sees Demand Increase 291% for Its Streak Visual Ammunition Year Over Year
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USN&WR: Pandemic, Presidential Election Leads to Run on Ammunition
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Say Goodbye to Inventory at Your FFL?
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail of via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. And it need not be only about commodities and precious metals. Thanks!