Between Quantitative easing coming from the Bank of England, talk of the ECB doing the same and the Swiss National Bank selling francs to weaken their currency the US dollar has gained in strength. This has also led to more demand for precious metals as safe haven against these devaluing currencies. Still in the back of everyone’s mind, even with the news that European Union plans on doing all it can to bolster the banking system and not allow any banking concerns to falter, is whether they will be successful. The precious metals remain tentative as concerns of more asset liquidation may still be possible. Still for now the overall factor seems to be that technically the new move to the upside has more room to go as a floor looks to have been set and capital flight moves back into commodities and the US dollar are helping keep the momentum. However it still seems we are stuck range bound as everyone seems to be holding their breath for tomorrow’s US government releases. Today’s Initial Jobless Claims were better than expected seem to indicate that tomorrow’s final Unemployment numbers may continue the trend of positive results for the US of late.
10/6/2011 10:15 | Last | %Change | Low | High |
Au- Dec | 1,644.40 | 0.17 | 1,633.20 | 1,656.80 |
Pt-Jan | 1,502.60 | 1.32 | 1,471.30 | 1,519.70 |
Pd-Dec | 596.15 | 4.52 | 571.05 | 599.75 |
Ag-Dec | 31.160 | 2.660 | 30.240 | 31.775 |
EFPs | Au 1.55/2.15 | Pt 2.75/6.75 | Pd 0/4 | Ag -1/5 |
London | AM | PM | Minor | PGMs |
Au | 1,649.50 | 1,635.00 | Rh | 1600 |
Pt | 1,504.00 | 1,495.00 | Ru | 155 |
Pd | 595.00 | 588.00 | Ir | 1100 |
Ag | 31.80 | DJI | 10,949.79 | 9.84 |
FX | Last | %Change | Low | High |
EUR | 1.3371 | 0.19 | 1.3239 | 1.3399 |
JPY | 76.69 | (0.10) | 76.52 | 76.84 |
GBP | 1.5337 | (0.80) | 1.5268 | 1.5502 |
CHF | 0.9236 | 0.05 | 0.9211 | 0.9315 |
Others | Last | %Change | Low | High |
Crude- Dec | 80.540 | 0.870 | 81.270 | 79.240 |
Copper-Dec | 3.2305 | 4.290 | 3.231 | 3.231 |
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
| |||
Date | Time | Statistic | For | Actual | Forecast | Expects | Prior | Revised |
6-Oct | 8:30 AM | 1-Oct | 401K | 400K | 402K | 395K | 391K | |
6-Oct | 8:30 AM | Continuing Claims | 24-Sep | 3700K | 3700K | 3725K | 3752K | 3729K |
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