TMAD Commodities: Gold Enters Bear Market
$USO $SLV $GLD $URA
Hello Traders,
We have some news about updates on our TMAD app. We added GEX by Expiry just below the chart with GEX by Strike, so now not only can you see what strikes have the highest open interest, but also in what time frames, whether it’s short term, longer term, such as leaps. This can help you tremendously when picking the right strikes and timing on your option contracts. This is updated in real time during market hours. Please let us know if you have any questions
Now, let’s continue with our weekly commodities report.
The inflation data just landed, and it’s worse than the market hoped. With PCE headline inflation at a three-year high of 4.1%, the "transitory" narrative is officially dead.
Bank of America is now warning of at least three rate hikes before the year is out, which is exactly the scenario I’ve been cautioning about. The dollar is flexing, and unfortunately, that means more pain for gold and silver. We are in the "turmoil" phase I predicted, and until the Fed gets a handle on prices, the path of least resistance for metals remains down.
UUP 0.00%↑ DOLLAR ETF
The dollar is flexing its muscles, and the data backs it up. We’re seeing a surge in call open interest that tells you exactly where the big money is parked. With the Fed signaling a potential rate hike, EUR/USD is shifting downward toward the 1.10 target. It’s a dollar-bullish environment, and the institutional positioning confirms it.
As you can see from our scoring strategy, this name has already been in the top 10 on our scanner multiple days.
