The world is in a quandary today after yesterday’s global Central Banks action. Discussions are flowing as to whether Europe is on the right path or not. For the time being their actions are considered a band-aid at best. So many traders remain with their fingers on the trigger depending on what further easing is expected and what other actions European banks will take to shore up their reserves. In United Kingdom they are pressing for their banks to shore up against a possible break up of either the Euro or the Euro Zone as we know it. So have market conditions changed. No, instability and lack of certainty will keep a damper on growth and keep gold prices moving higher. But for today and until more concrete certain action are taken in Europe we expect the precious metals to remain calm. However Palladium surprisingly today heavy buying in options have driven the metal up over 3% maybe today’s Auto Sales numbers are expected much higher? Today’s US jobless claims numbers were worse than expected taking away the good feeling from the recent flow of positive numbers. There are some comments that many jobs have now gone off radar, meaning under the table, which may explain surges in sales of products but lack of growth in the unemployment figures. This is not good for the US economy as that reduces the taxable base.
12/1/2011 10:08 | Last | %Change | Low | High | |||||||||
Au- Feb | 1,755.10 | 0.27 | 1,744.20 | 1,758.00 | |||||||||
Pt-Jan | 1,569.30 | 0.54 | 1,548.40 | 1,574.90 | |||||||||
Pd-Mar | 638.90 | 4.29 | 608.00 | 649.90 | |||||||||
Ag-Mar | 33.385 | 1.770 | 32.530 | 33.495 | |||||||||
EFPs | Au 3.40/4.20 | Pt 1/5 | Pd 1/5 | Ag 3/9 | |||||||||
London | AM | PM | Minor | PGMs | |||||||||
Au | 1,750.00 | 1,752.00 | Rh | 1625 | |||||||||
Pt | 1,552.00 | 1,561.00 | Ru | 120 | |||||||||
Pd | 613.00 | 633.00 | Ir | 1100 | |||||||||
Ag | 33.28 | DJI | 12,044.96 | (0.72) | |||||||||
FX | Last | %Change | Low | High | |||||||||
EUR | 1.3503 | 0.44 | 1.3415 | 1.3521 | |||||||||
JPY | 77.71 | 0.12 | 77.45 | 77.81 | |||||||||
GBP | 1.5735 | 0.19 | 1.5633 | 1.5746 | |||||||||
CHF | 0.9094 | (0.37) | 0.9067 | 0.9151 | |||||||||
Others | Last | %Change | Low | High | |||||||||
Crude- Jan | 100.930 | 0.560 | 99.880 | 101.170 | |||||||||
Copper-Dec | 3.554 | (0.260) | 3.582 | 3.516 | |||||||||
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
| ||||||||||||
Date | Time | Statistic | For | Actual | Forecast | Expects | Prior | Revised |
| ||||
1-Dec | 8:30 AM | 26-Nov | 402K | 395K | 390K | 396K | 393K |
| |||||
1-Dec | 8:30 AM | Continuing Claims | 19-Nov | 3740K | 3650K | 3650K | 3705K | 3691K |
| ||||
1-Dec | 10:00 AM | ISM Index | Nov | 52.7 | 50.5 | 51 | 50.8 | - |
| ||||
1-Dec | 10:00 AM | Oct | 0.80% | 0.20% | 0.30% | 0.20% | - |
| |||||
1-Dec | 3:00 PM | Dec | - | NA | NA | 4.27M | - |
| |||||
1-Dec | 3:00 PM | Dec | - | NA | NA | 5.84M | - |
| |||||
No comments:
Post a Comment