With no clear resolution in sight for the European economic crisis precious metals continue to benefit. Expectations that a lot of easing will be part of the solution has made commodities as the investment of choice in the short term. Gold of course has benefited better over recent days in its Safe Haven status and is garnering a strong basis for a continued upside move. Platinum looks kind of cheap compared to the Palladium price which may look a little too positive in this recent move. Silver continues to drag its feet and will still be a surprise if it can get enough interest to move any higher. Meanwhile volumes on the CME silver contract remain subdued due to the high margins. A possible reason for its lackluster performance. In their attempt to drive down volatility they have actually driven out the primary supporters who now have moved more business into OTC whereas the High Frequency traders still remain involved since that doesn’t truly affect their business model and they are the primary drivers of the high VOL in current times. US Durable Goods orders and Home Sales this morning came out much better than expected and the US Dollar is trading higher against the Index at the moment. Still the markets are waiting to hear from Brussels some definitive direction.
10/26/2011 10:45 | Last | %Change | Low | High |
Au- Dec | 1,716.10 | 0.92 | 1,696.50 | 1,724.40 |
Pt-Jan | 1,591.10 | 1.42 | 1,564.10 | 1,599.90 |
Pd-Dec | 653.50 | 0.21 | 643.45 | 659.50 |
Ag-Dec | 33.380 | 0.990 | 32.905 | 33.950 |
EFPs | Au 1/1.6 | Pt 2.50/6.50 | Pd 0/4 | Ag -2/4 |
London | AM | PM | Minor | PGMs |
Au | 1,713.00 | 1,715.00 | Rh | 1630 |
Pt | 1,566.00 | 1,580.00 | Ru | 140 |
Pd | 648.00 | 649.50 | Ir | 1100 |
Ag | 33.30 | DJI | 11,759.86 | 53.24 |
FX | Last | %Change | Low | High |
EUR | 1.3827 | (0.57) | 1.3824 | 1.3975 |
JPY | 75.94 | (0.18) | 75.67 | 76.16 |
GBP | 1.5925 | (0.47) | 1.5918 | 1.6041 |
CHF | 0.8828 | 0.55 | 0.8726 | 0.8835 |
Others | Last | %Change | Low | High |
Crude- Dec | 91.580 | (1.700) | 93.920 | 91.500 |
Copper-Dec | 3.5835 | 4.810 | 3.584 | 3.562 |
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
| |||
Date | Time | Statistic | For | Actual | Forecast | Expects | Prior | Revised |
26-Oct | 8:30 AM | Durable Orders | Sep | -0.80% | -1.50% | -1.00% | -0.10% | - |
26-Oct | 8:30 AM | Durable Orders -ex Transportation | Sep | 1.70% | -0.10% | 0.40% | -0.40% | 0.00% |
26-Oct | 10:00 AM | New Home Sales | Sep | 313K | 290K | 300K | 295K | - |
26-Oct | 10:30 AM | Crude Inventories | 22-Oct | - | NA | NA | -4.729M |
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