Spot prices

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Thursday, October 20, 2011

The Fed Beige book triggered the negative sentiment

The Fed Beige book triggered the negative sentiment yesterday on dim outlook for the US economy. With slow outlook on growth, little inflation and monetary tightening in China it painted a poor scenario for commodities. In the Asian hours copper took a beating which triggered a weakening in stock markets as well. This also acted as a catalyst as we have seen lately on the race for cash. Precious metals followed copper down the slippery slide and although “Safe Haven demand” remains strong it is not strong enough to withstand what appears to be more of a stagnating economy instead of weakening and inflating. Traders also have their ears to the ground waiting for concrete words of what the true strategy will be for the Greek crisis and the European malaise at large. Gold specifically looks like it has turned into bearish territory and may test more downward signals this day. Great caution is advised but still at these lower prices much of the precious group looks like a great bargain at Wal-Mart to physical consumers.

10/20/2011 10:32

Last

%Change

Low

High

Au- Dec

1,623.60

(1.42)

1,607.90

1,646.50

Pt-Jan

1,491.20

(2.09)

1,466.00

1,521.80

Pd-Dec

596.45

(1.96)

580.50

609.50

Ag-Dec

31.115

(0.510)

30.425

31.375

EFPs

Au 1/1.70

Pt 2/6

Pd 0/4

Ag -3/3

London

AM

PM

Minor

PGMs

Au

1,629.00

1,620.00

Rh

1630

Pt

1,490.00

1,490.00

Ru

150

Pd

597.00

595.00

Ir

1100

Ag

30.79

DJI

11,506.82

2.20

FX

Last

%Change

Low

High

EUR

1.3726

(0.23)

1.3670

1.3843

JPY

76.97

0.24

76.64

77.09

GBP

1.5725

(0.28)

1.5690

1.5803

CHF

0.8952

(0.83)

0.8925

0.9083

Others

Last

%Change

Low

High

Crude- Dec

85.740

(0.630)

87.120

85.310

Copper-Dec

3.1500

(3.190)

3.190

3.150

*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES

Date

Time

Statistic

For

Actual

Forecast

Expects

Prior

Revised

20-Oct

8:30 AM

Initial Claims

15-Oct

403K

400k

403k

409K

404K

20-Oct

8:30 AM

Continuing Claims

8-Oct

3719K

3700k

3690k

3694K

3670K

20-Oct

10:00 AM

Existing Home Sales

Sep

4.91M

5.10M

4.92M

5.06M

5.03M

20-Oct

10:00 AM

Philadelphia Fed

Oct

8.7

-5

-8.8

-17.5

-

20-Oct

10:00 AM

Leading Indicators

Sep

0.20%

0.30%

0.30%

0.30%

-

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