Stock market off again today continues to support gold. There is nowhere else for the money to go is the feeling of the investment community. Europe is too risky, China offers no vehicle. The PGMs consolidated and are making a mild comeback after being oversold. Silver lost its shine as an investment metal and has now gone back to its principal function as an industrial metal and so it is following copper as opposed to gold. The Gold/Platinum ratio is in backwardation not that people are trading it in that view anymore. The mindset of the market is gold is the only safe haven and truly liquid metal. This means that it can go higher while platinum price remains static. But things do eventually reverse so certainly there are some putting on the spread but you will have to have a lot guts and staying power to win that bet. Today’s numbers not major movers though Wholesale Inventories being off signals a continued economic slow down
| DEC-Z | Sep-U | Oct-V | Sep-U | |||||||||
Gold | Silver | Platinum | Palladium | ||||||||||
Last | 1,774.50 | 38.36 | 1,754.80 | 732.25 | |||||||||
Price Change | 31.50 | 1.24 | (1.60) | (2.30) | |||||||||
Current Low | 1,774.60 | 37.62 | 1,755.30 | 733.10 | |||||||||
Current High | 1,782.90 | 38.93 | 1,765.10 | 749.90 | |||||||||
EFP | 2.40/2.90 | .01/.04 | 2/6 | 0/4 | |||||||||
London PM Fixes: |
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AU | 1,772.00 | PT | 1,754.00 |
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PD | 741.00 |
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London AM Fixes: |
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AU | 1,753.75 | PT | 1,757.00 |
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PD | 747.00 | AG | 38.310 |
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| RH | 1,875.00 | RU | 175.00 | |||||||||
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| IR | 1,100.00 | |||||||||
EUR | 1.4190 | 1.4401 | 1.4192 |
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JPY | 76.46 | 77.31 | 76.48 |
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GBP | 1.6181 | 1.6336 | 1.6181 |
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Copper | 3.96 | Crude | 80.74 |
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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 |
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10-Aug | 7:00 AM | MBA Mortgage Index | 6-Aug | 21.70% | NA | NA | 7.10% | - |
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10-Aug | 10:00 AM | Jun | 0.60% | 1.00% | 1.00% | 1.70% | 1.80% |
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10-Aug | 10:30 AM | Crude Inventories | 6-Aug | - | NA | NA | 0.950M | - |
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10-Aug | 2:00 PM | Jul | - | -$132.0B | -$132.0B | -$165.0B | - |
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