Apparent liquidation from fear of possible contagion from the European crisis has commodities under continued pressure. Spanish bonds trading dangerously close to the 7% has heightened concerns that the situation will continue to unravel. Gold normally the safe haven is being hit hard part because it broke down through technical levels as well. Over the last few weeks however we have seen continued fresh buying come into the market on large dips and would not be surprised to see it happen again. Today US jobless claims numbers were better than expected adding to a string of mildly positive data. The US dollar has gained some ground as well against the Euro as both these major currencies fight for the ugliest dog title. Though gold the leader of the precious group is in bearish territory at the moment is shouldn’t last long.
11/17/2011 10:43 | Last | %Change | Low | High |
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Au- Dec | 1,743.60 | (1.73) | 1,733.00 | 1,768.00 |
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Pt-Jan | 1,607.70 | (1.44) | 1,596.50 | 1,628.30 |
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Pd-Dec | 629.85 | (3.75) | 624.90 | 651.00 |
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Ag-Dec | 32.790 | (3.050) | 32.540 | 33.980 |
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EFPs | Au .80/1.50 | Pt 2/6 | Pd -/4 | Ag -2/4 |
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London | AM | PM | Minor | PGMs |
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Au | 1,756.00 | 1,742.50 | Rh | 1675 |
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Pt | 1,618.00 | 1,607.00 | Ru | 130 |
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Pd | 642.00 | 635.00 | Ir | 1100 |
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Ag | 33.30 | DJI | 11,934.20 | 28.61 |
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FX | Last | %Change | Low | High |
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EUR | 1.3525 | 0.45 | 1.3418 | 1.3540 |
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JPY | 76.96 | (0.10) | 76.86 | 77.09 |
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GBP | 1.5783 | 0.31 | 1.5688 | 1.5802 |
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CHF | 0.9169 | (0.23) | 0.9146 | 0.9240 |
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Others | Last | %Change | Low | High |
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Crude- Dec | 101.170 | (1.380) | 103.370 | 100.010 |
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Copper-Dec | 3.429 | (1.590) | 3.492 | 3.392 |
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*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
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Date | Time | Statistic | For | Actual | Forecast | Expects | Prior | Revised | |||||
17-Nov | 8:30 AM | 12-Nov | 388K | 400K | 398K | 393K | 390K | ||||||
17-Nov | 8:30 AM | Continuing Claims | 5-Nov | 3608K | 3650K | 3648K | 3665K | 3615K | |||||
17-Nov | 8:30 AM | Oct | 628K | 575K | 604K | 630K | 658K | ||||||
17-Nov | 8:30 AM | Oct | 653K | 600K | 603K | 589K | 594K | ||||||
17-Nov | 10:00 AM | Philadelphia Fed | Nov | 3.6 | 5 | 7.5 | 8.7 | - | |||||
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