CPI much higher than expected has spurred gold up again. Confirmation of the expected inflation has newcomers joining the band wagon. The gravy train is now starting to share with silver and at the current pace with more funds jumping back onto this trail it wouldn’t be too surprising if this starts making new strides towards the $50 mark in the next few weeks. The Unemployment number came out higher indicating a continued economic slowdown which has affected the ability of the Platinum group metals to join the party. Following typical communist strategy Chavez of Venezuela has ordered the nationalization of the gold mining business and repatriate their external gold reserves. This in itself only adds to the perception of tightness for physical gold though there is more than enough to go around. The only good news is that Japan is doing much better than expected as their trade surplus proves which should prove to be the only data of late holding up the more industrial PGMs. The spread trade of Au/Pt looks like it might be a game to play again but this time expecting the other way Gold to go over Platinum. Gold fixed at the highest price ever this morning on the back of the very poor Existing Home Sales number.
| DEC-Z | Sep-U | Oct-V | Sep-U |
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Gold | Silver | Platinum | Palladium |
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Last | 1,825.20 | 40.57 | 1,833.50 | 757.15 |
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Price Change | 31.40 | 0.54 | (7.30) | (18.75) |
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Current Low | 1,825.20 | 40.08 | 1,833.50 | 756.45 |
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Current High | 1,829.70 | 40.95 | 1,847.00 | 779.70 |
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EFP | 2.40/2.90 | .01/.04 | 2/6 | 0/4 |
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London PM Fixes: |
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AU | 1,824.00 | PT | 1,836.00 |
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PD | 766.00 |
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London AM Fixes: |
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AU | 1,794.50 | PT | 1,841.00 |
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PD | 759.00 | AG | 40.620 |
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| RH | 1,850.00 | RU | 175.00 |
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| IR | 1,100.00 |
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EUR | 1.4295 | 1.4452 | 1.4296 |
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JPY | 76.50 | 76.71 | 76.54 |
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GBP | 1.6437 | 1.6555 | 1.6438 |
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Copper | 3.98 | Crude | 82.89 |
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*PLEASE NOTE THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
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Date | Time | Statistic | For | Actual | Forecast | Expects | Prior | Revised | |||||
18-Aug | 8:30 AM | Initial Claims | 13-Aug | 408K | 400K | 400K | 395K | - | |||||
18-Aug | 8:30 AM | Continuing Claims | 6-Aug | 3702K | 3700K | 3698K | 3688K | - | |||||
18-Aug | 8:30 AM | CPI | Jul | 0.50% | 0.20% | 0.20% | -0.20% | - | |||||
18-Aug | 8:30 AM | Core CPI | Jul | 0.20% | 0.20% | 0.20% | 0.30% | - | |||||
18-Aug | 10:00 AM | Existing Home Sales | Jul | 4.67M | 4.70M | 4.87M | 4.77M | - | |||||
18-Aug | 10:00 AM | Leading Indicators | Jul | 0.50% | 0.20% | 0.20% | 0.30% | - | |||||
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