Ina a report this morning from UBS by
Edel Tully she reports that Central bank buying was strong from many
Central Banks in August while the prices were high. This appears a
bullish signal. All things being equal the global economic still seems
very weak with poor numbers from consumers in both Germany and France
today. It also seems that recent fund redemptions have been a major
drive of the market on the downside. These redemptions forced
liquidations form companies like Man which lost $2.6 billion and with
their market losses and stack valuation added together lost
capitalization for over $6 billion. Hence leverage works both ways, in
this case it worked against this group and there were most likely other
firms that have suffered the same consequences of late. Several reports
this morning are expecting better results than original projected from
the Auto Sector reports due out on Monday. Despite this fundamentally
bullish news for the PGMs they are down 1% this morning. For the PGMs
and silver price recovery will remain difficult if gold does not take
the lead. The recent volatility and burn that many investors have taken
may have scared off some money for the short term. Still for the
foreseeable future we can expect to stay range bound unless some
unexpected news hits the wires. Today’s’ news release were close to
expectations though Chicago Manufacturing Index was better than expected.
9/30/2011 10:07
|
Last
|
%Change
|
Low
|
High
| |||||||||
Au- Dec
|
1,622.60
|
0.32
|
1,611.30
|
1,642.50
| |||||||||
Pt-Jan
|
1,519.50
|
(0.87)
|
1,513.50
|
1,548.50
| |||||||||
Pd-Dec
|
614.10
|
(1.52)
|
612.00
|
636.25
| |||||||||
Ag-Dec
|
30.310
|
(0.690)
|
29.900
|
31.335
| |||||||||
EFPs
|
Au 1.60/2.40
|
Pt 3/7
|
Pd .50/4.5
|
Ag 0/6
| |||||||||
London
|
AM
|
PM
|
Minor
|
PGMs
| |||||||||
Au
|
1,629.00
|
1,620.00
|
Rh
|
1700
| |||||||||
Pt
|
1,538.00
|
1,538.00
|
Ru
|
160
| |||||||||
Pd
|
627.00
|
614.00
|
Ir
|
1100
| |||||||||
Ag
|
30.45
|
DJI
|
11,084.58
|
(69.40)
| |||||||||
FX
|
Last
|
%Change
|
Low
|
High
| |||||||||
EUR
|
1.3447
|
(1.09)
|
1.3420
|
1.3601
| |||||||||
JPY
|
76.82
|
(0.01)
|
76.46
|
76.97
| |||||||||
GBP
|
1.5563
|
(0.39)
|
1.5528
|
1.5628
| |||||||||
CHF
|
0.9046
|
0.84
|
0.8960
|
0.9053
| |||||||||
Others
|
Last
|
%Change
|
Low
|
High
| |||||||||
Crude- Dec
|
81.520
|
(0.990)
|
83.390
|
80.210
| |||||||||
Copper-Dec
|
3.180
|
(1.760)
|
3.190
|
3.180
| |||||||||
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
| |||||||||||||
Date
|
Time
|
Statistic
|
For
|
Actual
|
Forecast
|
Expects
|
Prior
|
Revised
| |||||
30-Sep
|
8:30 AM
|
Aug
|
-0.10%
|
-0.30%
|
0.10%
|
0.10%
|
0.30%
| ||||||
30-Sep
|
8:30 AM
|
Personal Spending
|
Aug
|
0.20%
|
-0.20%
|
0.20%
|
0.70%
|
0.80%
| |||||
30-Sep
|
8:30 AM
|
Aug
|
0.10%
|
0.20%
|
0.20%
|
0.20%
|
-
| ||||||
30-Sep
|
9:45 AM
|
Sep
|
60.4
|
53
|
54
|
56.5
|
-
| ||||||
30-Sep
|
9:55 AM
|
Sep
|
49.4
|
57
|
57.5
|
57.8
|
-
| ||||||
