Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

Commodities

Gold is a chemical element with the symbol Au (from Latin: aurum) and the atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements, and is solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains, in rocks, in veins and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

<ul><li>Gold Demand Data Indicates More Economic Weakness Gold demand for technology purposes is still up but the pace continues to decline for the second quarter in a row now, as the latest data by the World Gold Council for Q3 showed.</li><li>The total gold demand (inclusive of OTC investment) gained meanwhile 5% y/y to 1,313 tonnes.</li><li>Global gold ETF inflows (95t) were a major driver of growth as Q3 was the first positive quarter for ETF flows since Q1’22.</li></ul>

Gold Demand Data Indicates More Economic Weakness Gold demand for technology purposes is still up but the pace continues to decline for the second quarter in a row now, as the latest data by the World Gold Council for Q3 showed.The total gold demand (inclusive of OTC investment) gained meanwhile 5% y/y to 1,313 tonnes.Global gold ETF inflows (95t) were a major driver of growth as Q3 was the first positive quarter for ETF flows since Q1’22.

Gold Demand Data Indicates More Economic Weakness

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

<ul>
<li>The US oil and gas rig count remained unchanged for the second week in a row, remaining at 585 for the week ending on 01/Nov.</li>
<li>In August, US oil production hit a record 13.4 million bpd, up 1.5% MoM, while natural gas output dipped 0.6% to 115.9 Bcf per day.</li>
<li>For the week ending 01/Nov, US energy producers added one rig each in North Dakota, Pennsylvania, and Utah, while cutting two rigs in Texas and one in Oklahoma.</li>
</ul>


The US oil and gas rig count remained unchanged for the second week in a row, remaining at 585 for the week ending on 01/Nov.
In August, US oil production hit a record 13.4 million bpd, up 1.5% MoM, while natural gas output dipped 0.6% to 115.9 Bcf per day.
For the week ending 01/Nov, US energy producers added one rig each in North Dakota, Pennsylvania, and Utah, while cutting two rigs in Texas and one in Oklahoma.


US Rig Count Unchanged for Second Week as Gas Rigs Offset Oil Decline

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>The focus on the US election is currently masking another, and potentially much more important, story: the meltdown in sovereign bond markets.</li><li>A minor “hiccup” from Rachel Reeves led to a complete frenzy in Gilt markets on Wednesday, the softest NFP report in years triggered another bond market sell-off, and German Bunds are trading at all-time weak levels versus swap rates.</li><li>Something is going on, as markets are avoiding sovereign bond risk at all costs.</li></ul>

The focus on the US election is currently masking another, and potentially much more important, story: the meltdown in sovereign bond markets.A minor “hiccup” from Rachel Reeves led to a complete frenzy in Gilt markets on Wednesday, the softest NFP report in years triggered another bond market sell-off, and German Bunds are trading at all-time weak levels versus swap rates.Something is going on, as markets are avoiding sovereign bond risk at all costs.

Steno Signals #124 – Something is WRONG in bond markets

<ul>
<li>We are thrilled to announce that our macro trading portfolio is now live on the website, giving you access to our approach to allocation.</li>
<li>The full portfolio, investment philosophy, and thoughts on the role of macro in any portfolio are accessible here, but we want to take this opportunity to explain why the portfolio was launched, what you can expect from it, and how it will give you an edge in global markets.</li>
<li>The portfolio simulates an investment of $100,000 in accessible, long-only products like ETFs, stocks, and occasionally crypto or FX (with recommendations on how to trade these via ETFs or similar instruments).</li>
</ul>


We are thrilled to announce that our macro trading portfolio is now live on the website, giving you access to our approach to allocation.
The full portfolio, investment philosophy, and thoughts on the role of macro in any portfolio are accessible here, but we want to take this opportunity to explain why the portfolio was launched, what you can expect from it, and how it will give you an edge in global markets.
The portfolio simulates an investment of $100,000 in accessible, long-only products like ETFs, stocks, and occasionally crypto or FX (with recommendations on how to trade these via ETFs or similar instruments).


Macro Portfolio Update #1 – The Steno Research Macro Portfolio Is Live!

Head of Content, Data & Research, Helixtap

Arusha Das

Head of Content, Data & Research

Global Commodities Alternative Data and Insights

Helixtap

Helixtap collects, processes and distributes proprietary data, analyses and forecasts for the rubber, latex and automotive markets

SGX Technically Specified Rubber 20 (TSR20) Futures: Effective from 16th May 2011, this contract will be migrated from SICOM platform to the SGX-DT platform. It will cease trading on SICOM at the close of business day Friday, 13th May 2011. Trading hours are revised as 7.55am to 6.00pm (no lunch break). Please refer to SGX products website for the new revised contract specifications. Exchange symbol: TF. Product Specifications: https://www2.sgx.com/derivatives/products/sicom-rubber?cc=TF

<ul><li>Delay in EUDR could add more volume in the market, along with improving weather conditions. </li><li>Due to supply disruptions, there has been some significant shift in the buying pattern of some of the major rubber-consuming countries.</li><li>Ivorian rubber saw a surge in demand in the last year.</li></ul>

Delay in EUDR could add more volume in the market, along with improving weather conditions. Due to supply disruptions, there has been some significant shift in the buying pattern of some of the major rubber-consuming countries.Ivorian rubber saw a surge in demand in the last year.

Moment Of Truth Looms For Global Rubber Market – A Possible Glut

Insights Relevant to South Africa Equity Markets

South Africa Asset Management
Insights Relevant to South Africa Equity Markets

Gold Demand Data Indicates More Economic Weakness

Gold Demand Data Indicates More Economic Weakness Gold demand for technology purposes is still up but the pace continues to decline for the second...

The Commodity Report

US Rig Count Unchanged for Second Week as Gas Rigs Offset Oil Decline

For the week ending 01/Nov, the US rig count remained unchanged again at 585. Oil rigs fell by 1 and gas rigs rose by 1. US oil production grew by...

Mint Finance

Steno Signals #124 – Something is WRONG in bond markets

The focus on the US election is currently masking another, and potentially much more important, story: the meltdown in sovereign bond markets. A...

Steno Research

Macro Portfolio Update #1 – The Steno Research Macro Portfolio Is Live!

We are thrilled to announce that our macro trading portfolio is now live on the website, giving you access to our approach to allocation. The full...

Steno Research

Moment Of Truth Looms For Global Rubber Market – A Possible Glut

The current question in the rubber market watchers is of the roadmap. With some recent developments in China and the EUDR implementation, going...

Helixtap