The risk on sentiment continues in the precious metals market this am with dollar weakening versus the euro. Mix bag of economic data from the US with durable goods orders falling 4% and capital good falling 4.5% in Jan and home prices falling while consumer confidence and Richmond Fed manufacturing index rising. A combination of more liquidity in the financial system and votes on austerity in Europe is helping the euro. Silver is the clear winner so far in 2012 up over 30% YTD. After breaking out of the range and smashing all technical averages, it’s off to the races. We expect the gold to test 1800 while silver holds or sells off slightly to bring the au/ag ratio to back around 50. With crude continue to hover over $108, we would expect the industrial metals to come off in the near future. The markets are drunk on liquidity right now and if the world economy recovers slower than expected, we will see a steeper sell off. Hang on and enjoy the ride in these markets, we are back to 2011….
| Metals | Last | %Change | Low | High |
| Au- Apr | 1788.6 | 0.77% | 1767 | 1792.7 |
| Pt-Apr | 1722.8 | 0.52% | 1694.2 | 1728.4 |
| Pd-Mar | 720.9 | 2.20% | 699.70 | 721.20 |
| Ag-Mar | 37.075 | 4.42% | 35.315 | 37.225 |
| London | AM | PM | Minor | PGMs |
| Au | 1774.75 | 1781 | Rh | 1540 |
| Pt | 1710 | 1712 | Ru | 135 |
| Pd | 708 | 712 | Ir | 1100 |
| Ag | 35.6 | DJI | 13011.48 | 29.97 |
| Currencies |
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| USD | EUR | JPY | GBP |
| USD | 0 | 1.3458 | 0.012428 | 1.5884 |
| EUR | 0.7431 | 0 | 0.9235 | 1.1803 |
| JPY | 80.47 | 108.29 | 0 | 127.813 |
| GBP | 0.6296 | 0.84721 | 0.7824 | 0 |
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| Crude Brent | 123.08 | Comex Copper | 390.75 |
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| Crude WTI | 107.97 | Nat Gas | 2.521 |
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| *THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
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