The precious metals complex is retreating a bit after yesterdays gain. It seems that much of the movement in the metals is coming in conjunction with the fluctuation in the value of the EURUSD cross. Overall, the commodities sector has fared relatively well since the Fed indicated that rates will be low until late 2014, however each headline has the potential to change the short term perception of the value of each asset. We saw the precious metals rally on the back of this news, then back off as soon as the dust cleared. The recent fluctuation in gold and silver looks to be associated with the uncertainty that the Fed will be able to leave rates at exceptionally low rates for as long as they have stated. We saw better ADP, NFP and jobless claims #’s come out of the USA February. This has caused some concern over the validity of the Feds most recent statement. In addition, the confusion associated with the Greek debt deals has helped to cause an uncertainty in the euro markets. Traders and investors alike remain vigilant to developments EU debt issues and the progression of the US economy, as each variable changes strategies will be adjusted and prices will fluctuate.
Metals | Last | %Change | Low | High |
Au- Apr | 1732.4 | -0.93% | 1726 | 1754.8 |
Pt-Apr | 1662.6 | 0.48% | 1645.3 | 1669.3 |
Pd-Mar | 714.25 | 0.69% | 704.95 | 716.00 |
Ag-Mar | 33.775 | -1.23% | 33.655 | 34.520 |
London | AM | PM | Minor | PGMs |
Au | 1743 | 1746 | Rh | 1525 |
Pt | 1649 | 1647 | Ru | 130 |
Pd | 706 | 707 | Ir | 1100 |
Ag | 34.37 | DJI | 12864.69 | -13.51 |
Currencies |
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|
| |
| USD | EUR | JPY | GBP |
USD | 0 | 1.3267 | 0.012983 | 1.5827 |
EUR | 0.7537 | 0 | 0.97854 | 1.193 |
JPY | 77.03 | 102.19 | 0 | 121.908 |
GBP | 0.6318 | 0.83823 | 0.8203 | 0 |
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES | ||||
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