Several factors have helped cause a rally in most markets today. There have been rumors that the Chinese GDP data, due out tonight, is going to be quite a bit better than initially forecasted. In addition, bank lending numbers out of China were better than expected. In the US we received better than expected PPI and trade balance numbers and slightly higher than expected initial jobless claims. The markets returned to a risk on trade today with a strong move to the upside in the US, Asian, and European Equities, as well as, all commodities with the exception of natural gas. In the precious metals complex, silver is today’s big mover with a gain of nearly 3%. The newly reignited risk on trade has helped to push gold, silver and palladium through previous resistance. Should this trade be carried into tomorrow’s session there is a good chance we could see the metals trade higher. Silver managed to break through its 100 DMA ($32.11) and now sits less than a dollar below it 50 DMA ($33.35) . Gold looks set to test its 100 DMA ($1685.58) after a very strong close today. Technically palladium looks relatively bullish, however it may run into some resistance in the mid 660’s. Platinum is currently testing resistance at $1607, should it break through we may see a move back to $1625. Traders and investors alike will be looking out for the Chinese GDP #’s tonight as well as the US CPI numbers tomorrow morning. Better than expected numbers should help the metals complex continue its most recent rally. Good luck.
| Metals | Last | %Change | Low | High |
| Au-Jun | 1677.8 | 1.04% | 1651 | 1681.3 |
| Pt-Jul | 1607 | 1.43% | 1582.5 | 1608.7 |
| Pd-Jun | 653.05 | 2.75% | 636.00 | 655.90 |
| Ag-May | 32.405 | 2.79% | 31.420 | 32.580 |
| London | AM | PM | Minor | PGMs |
| Au | 1655.5 | 1668.5 | Rh | 1400 |
| Pt | 1594 | 1585 | Ru | 120 |
| Pd | 643 | 641 | Ir | 1100 |
| Ag | 31.47 | DJI | 12980.6 | 175.21 |
| Currencies |
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| USD | EUR | JPY | GBP |
| USD | 0 | 1.3188 | 0.012378 | 1.5967 |
| EUR | 0.7583 | 0 | 0.93857 | 1.2107 |
| JPY | 80.79 | 106.55 | 0 | 129.001 |
| GBP | 0.6263 | 0.82596 | 0.7752 | 0 |
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| Crude Brent | 121.66 | Comex Copper | 372.05 |
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| Crude WTI | 103.59 | Nat Gas | 1.986 |
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| *THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
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