The US Federal Reserve, the European Central Bank

The US Federal Reserve, the European Central Bank, the Bank of England and the central banks of Canada, Japan and Switzerland coordinated efforts to add liquidity in the markets which in turn have bolstered commodity prices. The goal is to lower cost of borrowing across the global economy to spur growth. This is also on the back of downgrades of major world banks by S&P. Meanwhile China has also loosened the rein on their banks by cutting reserve requirements in hopes of bolstering activity. Meanwhile in the UK 2 million went on strike in revolt against their austerity measures. Well, these actions at their core are no surprise, but it is enough to convince investors that the long precious metals trade is still the right place to be.

11/30/2011 10:08			Last		%Change			Low			High
Au- Feb			1,746.80		1.62			1,704.30			1,754.10
Pt-Jan			1,551.20		0.68			1,513.00			1,560.90
Pd-Mar			611.45		4.65			571.00			628.00
Ag-Mar			32.415		1.450			31.120			32.640
EFPs			Au 3.20/3.80		Pt 1/5			Pd 1/5			Ag 3/9
London			AM		PM			Minor			PGMs
Au			1,704.00		1,746.00			Rh			1625
Pt			1,515.00		1,558.00			Ru			120
Pd			574.00		620.00			Ir			1100
Ag			31.35		DJI			11,944.15			388.52
FX			Last		%Change			Low			High
EUR			1.3452		1.02			1.3256			1.3533
JPY			77.65		(0.35)			77.27			78.16
GBP			1.5724		0.81			1.5521			1.5745
CHF			0.9116		(0.98)			0.9078			0.9252
Others			Last		%Change			Low			High
Crude- Jan			101.260		1.470			98.920			101.750
Copper-Dec			3.535		4.700			3.541			3.296
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
Date	Time	Statistic		For		Actual	Forecast		Expects	Prior		Revised
30-Nov	7:00 AM	MBA Mortgage Index		26-Nov		-11.70%	NA		NA	-1.20%		-
30-Nov	7:30 AM	Challenger Job Cuts		Nov		-12.80%	NA		NA	12.60%		-
30-Nov	8:15 AM	ADP Employment Change		Nov		206K	110K		125K	130K		110K
30-Nov	8:30 AM	Productivity-Rev.		Q3		2.30%	2.60%		2.60%	3.10%		-
30-Nov	8:30 AM	Unit Labor Costs		Q3		-2.50%	-1.90%		-2.10%	-2.40%		-
30-Nov	9:45 AM	Chicago PMI		Nov		62.6	56		57.5	58.4		-
30-Nov	10:00 AM	Pending Home Sales		Sep		-	-2.00%		0.10%	-4.60%		-
30-Nov	10:30 AM	Crude Inventories		26-Nov		-	NA		NA	-6.219M		-
30-Nov	2:00 PM	Fed's Beige Book		Nov		-	-		-	-		-
23-Nov	10:30 AM	Crude Inventories		19-Nov		-	NA		NA	-1.056M		-

You would think with all the negative news coming out

You would think with all the negative news coming out of Europe we would be out big in precious metals. Italian debt sold well but at a high cost and the UK is starting to suffer greatly from their taught austerity measures and the European environment. Meanwhile Iranian Students stormed the UK Embassy over their support of Embargoes due to their support of sanctions to stop them from seeking nuclear capability. No UK embassy personnel were in place as they obviously had a heads up on this action. Yesterday afternoon Societe General released a report calling for higher gold and lower crude. Things sure look bullish for the yellow metal and the Gold exchange traded products break records and now hold a high of 2,351.543 metric tons. Yesterday’s new home sales was a non starter since it came close to range with a better adjustment for the previous month. The market is having a tough time going higher which may be caused by some profit taking at the end of this reporting period for some investment houses. Consumer Confidence came out higher in the US which is a very good signal coming into the Holiday spending season.

11/29/2011 10:17			Last		%Change			Low			High
Au- Feb			1,720.60		0.35			1,707.20			1,721.70
Pt-Jan			1,547.50		0.51			1,536.50			1,551.60
Pd-Mar			587.65		1.04			580.20			590.95
Ag-Mar			32.195		(0.140)			31.530			32.240
EFPs			Au 3.20/3.80		Pt 1/5			Pd 1/5			Ag 3/9
London			AM		PM			Minor			PGMs
Au			1,717.00		1,717.00			Rh			1650
Pt			1,542.00		1,537.00			Ru			120
Pd			583.00		582.00			Ir			1100
Ag			31.96		DJI			11,618.49			95.48
FX			Last		%Change			Low			High
EUR			1.3344		0.21			1.3283			1.3442
JPY			77.88		(0.13)			77.58			78.28
GBP			1.5625		0.75			1.5466			1.5656
CHF			0.9205		(0.21)			0.9137			0.9244
Others			Last		%Change			Low			High
Crude- Jan			99.730		1.540			97.230			99.790
Copper-Dec			3.379		0.550			3.399			3.334
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
Date	Time	Statistic		For		Actual	Forecast		Expects	Prior		Revised
28-Nov	10:00 AM	New Home Sales		Oct		307K	310K		312K	303K		313K
29-Nov	10:00 AM	Consumer Confidence		Nov		56	44		42.5	39.8		-