Markets are very quiet overnight and this morning with no economic news. The precious metals continue to be range bound. With the US economy improving and lingering questions about contagion of the European financial crisis to Portugal and/or others, we expect the dollar to strengthen in the coming week. We would be buyers of gold and silver at any major selloff as we think the metals are oversold in the short term. We would be a seller of platinum and palladium above $1750 and $725 as economic fundamentals would not support prices at those levels. Keep a close eye on euro/dollar and metals ratios for trading opportunities. We would trade lightly and be on the lookout for major headline new risks. All signs point to a very quiet Monday.
| Metals | Last | %Change | Low | High |
| Au- Apr | 1655.2 | -0.04% | 1652.3 | 1665.1 |
| Pt-Apr | 1675 | -0.04% | 1670.5 | 1684 |
| Pd-Jun | 702.65 | 0.07% | 698.00 | 703.90 |
| Ag-May | 32.490 | -0.35% | 32.330 | 32.770 |
| London | AM | PM | Minor | PGMs |
| Au | 1654 | - | Rh | 1525 |
| Pt | 1672 | 1673 | Ru | 130 |
| Pd | 700 | 702 | Ir | 1100 |
| Ag | 32.44 | DJI | 13218.59 | -14.03 |
| Currencies |
|
|
| |
|
| USD | EUR | JPY | GBP |
| USD | 0 | 1.3156 | 0.011975 | 1.586 |
| EUR | 0.7599 | 0 | 0.91017 | 1.2055 |
| JPY | 83.5 | 109.86 | 0 | 132.435 |
| GBP | 0.6305 | 0.8295 | 0.7551 | 0 |
|
|
|
|
|
|
| Crude Brent | 125.36 | Comex Copper | 390.25 |
|
| Crude WTI | 107.44 | Nat Gas | 2.329 |
|
| *THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
| |||
No comments:
Post a Comment