Andy Hecht

Oil Goes to Sleep with Record Open Interest

Mar 01, 2017

The trading range in crude oil has been narrow since the middle of December 2016. From high to low since December 19, the price of active month NYMEX crude oil futures have traded in a range of only $4.53 per barrel. Considering that there were... more

Gold and Silver Reassert

Feb 03, 2017

After Election Day in November, it looked like the rallies in gold and silver that took place over the course of 2016 were over and done. Nearby gold futures fell to lows of $1,123.90 and silver reached a low of $15.70 per ounce in December. Both... more

Q4 2016 Winners and Losers and a Look Ahead to Q1 2017

Jan 03, 2017

The dollar index exploded higher by 7.23% in Q4 2016, but most raw material prices ignored the greenback. The principal raw materials traded on US and UK futures exchanges rose by 3.75% in Q4. The dollar was up by 3.59% in 2016 and commodities... more

Election Results and Commodity Prices

Dec 01, 2016

An election is always a time of uncertainty; however, when an incumbent’s term ends and the election for a new and unknown leader occurs, it often leads to an increase in volatility. The 2016 election was one of the most contentious, hard-fought... more

Three Important Events for Commodities in the Coming Weeks

Nov 03, 2016

These upcoming events will impact commodities:

Election Day on November 8 OPEC meeting on November 30 Fed Funds rate decision in mid-December

It has been a busy year, beginning with a tumultuous sell off in the Chinese... more

Q3 2016 Winners and Losers Plus a Look Ahead to Q4

Oct 03, 2016

The dollar index posted a small loss of 0.85% in the third quarter of 2016, but that did not help the composite of commodities during the three-month period. The principal raw materials that trade on US and UK futures exchanges fell by... more

Natural Gas Fundamentals and Technicals Line Up

Sep 02, 2016

Natural gas was one of the dogs of 2016. The commodity's price reached a low of $1.6110 per MMBtu in March, the lowest price since 1998. There were many reasons for the price swoon. Discoveries of quadrillions of cubic feet of gas in the... more

The Fed Sets the Path for Higher Commodity Prices

Aug 01, 2016

Last week we heard from the US Federal Reserve and for the seventh straight month, the central bank left interest rates unchanged. In December 2015, the Fed hiked the short-term Fed Funds rate for the first time in nine years. At that point, they... more

Q2 2016 Winners and Losers Plus a Look Ahead to Q3

Jul 05, 2016

The second quarter of 2016 is now in the books. It was a quarter of fear of uncertainty, volatility, and gains for commodities. Overall, a composite of the 29 primary commodities that trade on futures markets moved 10.75% higher. So far in 2016,... more

A Major Technical Signal for Commodities?

Jun 01, 2016

The US economy is the world’s largest. The US dollar has been the world’s most stable currency, and it is universally accepted as the reserve currency around the globe. The dollar is the benchmark pricing mechanism for most commodity prices, and... more