The precious metals market has been
subject to high volatility the last few days while fundamentals have
little to do with the activity as analyst sea4rch for reasons where none
are clearly given. But gold remains resilient bouncing up every time.
The President’s speech did little yesterday to instill confidence and
threat of Federal reserve action remains on the burner. Euro Zone
concerns remain high and precious metals in the face of downward
pressure still claw their way back up, Safe Haven Buying remains the
primary factor. With little fundamental reasons there are two issues at
hand. The first is High Frequency Trading, with no vested interest in
the market these professional pick pockets are in one second and out the
next making true price discovery difficult. Another rumored theory is
that there is an Equity Hedge fund that is long in the money Gold Calls
at 1800. Being long these calls they are playing the market by stealing
large volumes of which in essence they are taking their profits, then
after their activity the market dips and they buy it back and churn some
more profit out. While gold remains schizophrenic in this recent 100
dollar range the other metals remain weak as true fundamentals are weak
on economic demand and safe haven buying avoids these less liquid
metals. The Gold/Platinum spread remains an active game and on that is
certainly seeing more than usual activity.
DEC-Z
|
DEC-Z
|
Oct-V
|
DEC-Z
| |
Gold
|
Silver
|
Platinum
|
Palladium
| |
Last
|
1,847.10
|
41.720
|
1,834.90
|
739.60
|
Price Change
|
(10.40)
|
(1.90)
|
(19.60)
|
(25.70)
|
Current Low
|
1,847.10
|
41.330
|
1,835.60
|
739.55
|
Current High
|
1,889.10
|
42.785
|
1,867.70
|
765.80
|
EFP
|
2.40/2.90
|
.05/.10
|
2/6
|
1/5
|
Rhodium
|
1,875.00
|
Ruthenium
|
175.00
| |
Iridium
|
1,100.00
| |||
London PM Fixes:
| ||||
AU
|
1,851.00
|
PT
|
1,842.00
| |
PD
|
748.00
| |||
London AM Fixes:
| ||||
AU
|
1,879.50
|
PT
|
1,857.00
| |
PD
|
762.00
|
AG
|
41.4000
| |
Last
|
Low
|
High
| ||
EUR
|
1.3723
|
1.3936
|
1.3727
| |
JPY
|
77.72
|
77.86
|
77.73
| |
GBP
|
1.5902
|
1.5991
|
1.5905
| |
Crude Oil -CME
|
87.21
|
Copper
|
4.02
| |
*PLEASE NOTE THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
| ||||
Date
|
Time
|
Statistic
|
For
|
Actual
|
Forecast
|
Expects
|
Prior
|
Revised
|
9-Sep
|
10:00 AM
|
Wholesale Inventories
|
Jul
|
0.80%
|
0.70%
|
0.70%
|
0.60%
|
-
|
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