China Gold Imports Soar To Two Year High, As Hong Kong Gold Bar Imports Surge Ahead Of Clearing System Launch

Goldman Warns Brent Could Top $120 If Gulf Chokepoint Crisis Deepens Brent crude futures are trading in the low $90s as the Gulf area escalation enters a tenth consecutive day. Iran attacked a tanker in the Strait of Hormuz, while two tankers carrying Saudi crude reversed course in the southern Red Sea after warnings from Iran-backed Houthi forces placed another critical maritime chokepoint under threat. For more color on energy markets, Goldman commodities expert Daan Struyven warned clients on Monday that Brent crude futures could surge above $120 a barrel by...

Housing Starts & Permits Plunge In August As Homebuilder Confidence Nears COVID Lows On the back of another tumble in homebuilder confidence (though still a long way from homebuyer confidence)... ...building permits were expected to decline in August (while starts were expected to rebound from July's big plunge). However, both Starts and Permits dropped MoM, dramatically worse than expected (Starts -2.6% MoM vs +6.7% MoM exp, Permits -2.7% MoM vs -1.5% MoM exp) On a SAAR basis, Starts at back near post-COVID lows while Permits are holding in a four year range... The details...

The Next Commodity Supercycle Has Already Started Authored by Chris Macintosh via InternationalMan.com, The world rotates between two sectors: technology and energy. You have to turn the lights on or nothing happens. You need both the lights and the energy to power them. No lights, only energy? Nothing. Lights with no energy? Nothing. Essentially you have to innovate or you never progress. Markets tend to rotate between those two broad sectors accordingly. Go back to the height of the energy boom in 2013 and 2014. You couldn’t give Microsoft away. Energy, on the other...