Greece back out of the rescue plan? Possible ejection from the European Union? It feels like we are back to square on but with the headline some times more important factors are being ignored. The 9% capital requirements for the banks in the EU seems to be a more daunting task to be concerned with. Combine that with the unchanged Greek situation and we have the setting to put precious metal back in the green this morning. Then if things are not looking poor enough the financial markets are going through another turmoil as MF Global one of the world’s largest brokerage house is going through a possible complete collapse. In one statement from the CME it is said that they have violated almost all the exchange rules in reference to segregation of customer funds. People are trying as we speak to pull their money out of the firm but due to the many shenanigans going on there it may be another catastrophe. Will this also have a domino effect on the financial markets? Certainly it will but to what magnitude is not yet clear. Expect the safe haven angle to keep the entire precious group trading higher. Today’s US numbers were in consequential to the more serious global concerns.
11/2/2011 11:09 | Last | %Change | Low | High |
Au- Dec | 1,742.90 | 1.81 | 1,715.50 | 1,745.60 |
Pt-Jan | 1,616.20 | 2.16 | 1,581.10 | 1,617.50 |
Pd-Dec | 652.50 | 2.75 | 631.30 | 652.80 |
Ag-Dec | 34.345 | 4.930 | 33.100 | 34.400 |
EFPs | Au 1/1.70 | Pt 2/6 | Pd .25/4.25 | Ag -2/4 |
London | AM | PM | Minor | PGMs |
Au | 1,731.00 | 1,743.00 | Rh | 1650 |
Pt | 1,595.00 | 1,609.00 | Ru | 140 |
Pd | 641.00 | 646.00 | Ir | 1100 |
Ag | 33.83 | DJI | 11,870.36 | 212.40 |
FX | Last | %Change | Low | High |
EUR | 1.3820 | 0.92 | 1.3634 | 1.3830 |
JPY | 77.96 | (0.51) | 77.91 | 78.41 |
GBP | 1.6018 | 0.45 | 1.5914 | 1.6047 |
CHF | 0.8797 | (0.82) | 0.8786 | 0.8906 |
Others | Last | %Change | Low | High |
Crude- Dec | 93.560 | 1.480 | 93.790 | 90.970 |
Copper-Dec | 3.616 | 3.220 | 3.630 | 3.478 |
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
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Date | Time | Statistic | For | Actual | Forecast | Expects | Prior | Revised |
2-Nov | 7:00 AM | MBA Mortgage Index | 29-Oct | 0.20% | NA | NA | 4.90% | - |
2-Nov | 7:30 AM | Challenger Job Cuts | Oct | 12.60% | NA | NA | 211.50% | - |
2-Nov | 8:15 AM | ADP Employment Change | Oct | 110K | 130K | 100K | 116K | 91K |
2-Nov | 10:30 AM | Crude Inventories | 29-Oct | - | NA | NA | 4.735M | - |
2-Nov | 12:30 PM | FOMC Rate Decision | Nov | - | 0.25% | 0.25% | 0.25% | - |
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