The Euro is still getting punished

The Euro is still getting punished even though bond auctions today in Italy went well. This has surprisingly continued the downward spiral of the precious metals. But this is all on the back of very low volumes due to the holiday season. The bleeding seems to have stopped for now and some commodities such as copper are flat. It looks like we may be at the bottom but with no industrial consumers in the market place the bottom will remain weak. We expect an uptick on the return of vacationing consumers and investors next week. Jobless claims reports this morning were worse than expected and maybe that may be the backstop the precious metals needed as the few people in the market seem to be giddy over buying US Dollars.

12/29/2011 10:12		Last		%Change		Low			High
Au- Feb		1,534.50		(1.89)		1,523.90			1,562.80
Pt-April		1,370.00		(1.60)		1,347.60			1,390.00
Pd-Mar		632.70		(2.23)		626.50			641.30
Ag-Mar		26.755		(1.750)		26.145			27.160
EFPs		Au 1/1.50		Pt 2/6		Pd 0/4			Ag -4/2
London		AM		PM		Minor			PGMs
Au		1,537.50		1,531.00		Rh			1400
Pt		1,364.00		1,354.00		Ru			110
Pd		636.00		630.00		Ir			1100
Ag		26.16		DJI		12,227.25			75.84
FX		Last		%Change		Low			High
EUR		1.2915		(0.18)		1.2855			1.2945
JPY		77.75		(0.26)		77.63			77.98
GBP		1.5411		(0.29)		1.5357			1.5476
CHF		0.9427		0.03		0.9410			0.9470
Others		Last		%Change		Low			High
Crude- Jan		99.380		(0.320)		99.100			100.230
Copper-Dec
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
Date	Time		Statistic		For		Actual	Forecast		Expects		Prior	Revised
29-Dec	8:30 AM		Initial Claims		24-Dec		381K	370K		368K		366K	364K
29-Dec	8:30 AM		Continuing Claims		17-Dec		3601K	3625K		3600K		3567K	3546K
29-Dec	9:45 AM		Chicago PMI		Dec		62.5	59		60.1		62.6	-
29-Dec	10:00 AM		Pending Home Sales		Nov		-	1.00%		0.60%		10.40%	-
29-Dec	11:00 AM		Crude Inventories		24-Dec		-	NA		NA		-10.570M	-