There is nothing else to talk about except the Down grade of US Debt. On this news gold has made new highs and looks like it may have more opportunity to go higher. Concerns that this will only add to the woes in the USA has many fleeing. The thinking is that the economy will come to a crawl. This thinking process has most in a depression even before it actually happens. Truth be told there is one thing they are not taking into account. People are still working and producing. Even though last week’s Retails sales numbers were bad it would not be a big surprise to see the number improve to the upside for August on the back of Back to School spending. Still with all the bad news out of Euro Zone as well, investment money will be holding onto the yellow stuff. At this time it is about to attempt a move over the price of Platinum. One thing for certain is that the platinum jewelry market should get a shot in the arm if these prices persist. But for the most part PGMs are not participating with gold due to weakness of industrial commodities in general. The stock market is also taking a hit but not as hard as many were projecting. No US News today.
| DEC-Z | Sep-U | Oct-V | Sep-U |
Gold | Silver | Platinum | Palladium | |
Last | 1,701.00 | 39.27 | 1,724.00 | 732.10 |
Price Change | 49.20 | 2.75 | 4.90 | (9.65) |
Current Low | 1,701.10 | 38.32 | 1,724.00 | 732.30 |
Current High | 1,718.20 | 40.40 | 1,732.90 | 743.50 |
EFP | 2.40/2.90 | .01/.04 | 2/6 | 0/4 |
London PM Fixes: |
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AU | 1,693.00 | PT | 1,725.00 |
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PD | 733.00 |
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London AM Fixes: |
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AU | 1,709.75 | PT | 1,716.00 |
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PD | 730.00 | AG | 39.860 |
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| RH | call | RU | 175.00 |
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| IR | 1,100.00 |
EUR | 1.4174 | 1.4402 | 1.4176 |
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JPY | 77.71 | 78.46 | 77.74 |
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GBP | 1.6345 | 1.6472 | 1.6347 |
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Copper | 4.11 | Crude | 84.22 |
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