The commodity market initially rallied Sunday night on news

The commodity market initially rallied Sunday night on news of the $125 billion Spanish bank bailout but that euphoria quickly fizzled as concerns about the health of Italian banks turned investors away from risky assets once again. The main concern is the mounting Italian debt and Euro zone’s economic contractions in the face of austerity measures. The downgrade of 18 Spanish banks today by Fitch initially caused the commodities to sell off but gold and silver rallied as investors once again chose to focus on the possible QE at the next US Fed meeting. Gold rallied and is holding above $1600 and silver is fighting to breach $29. Platinum, palladium, copper, and oil remain largely unchanged to slightly positive as fears of Chinese and Indian economic slowdown continues. We are trading gold and silver with a positive bias and are flat PGMs due to industrial demand concerns. It feels like déjà vu as we wait once again for more economic data while waiting for the US Fed to bail out the markets.        

 

Metals	Last	%Change	Low	High
Au-Aug	1613.2	1.01%	1586.4	1618.9
Pt-Jul	1455.5	0.46%	1423.9	1456.7
Pd-Sep	626.55	0.01%	615.05	626.90
Ag-Jul	28.960	1.22%	28.315	29.050
London	AM	PM	Minor	PGMs
Au	1589.25	1603.5	Rh	1260
Pt	1433	1443	Ru	115
Pd	617	624	Ir	1100
Ag	28.54	DJI	12573.8	162.57
Currencies
	USD	EUR	JPY	GBP
USD	0	1.2511	0.012578	1.5582
EUR	0.7993	0	1.00537	1.2455
JPY	79.51	99.47	0	123.885
GBP	0.6418	0.8029	0.8072	0
Crude Brent	97.28	Comex Copper	334.7
Crude WTI	83.4	Nat Gas	2.21
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES