After reaching an all time high of 1684 gold

After reaching an all time high of 1684 gold has finally began a bit of a retreat. Yesterday we saw some downward action on a slight correction but this morning the driver has been the better than expect good jobs numbers lowering the Unemployment Rate to 9.1%. The new numbers and including the better than expected revisions throws a wrench into the doomsayers perception of things. Honestly I myself was starting to fall under the influence of this negative outlook. Still much more is needed to truly indicate a turnaround. But this is a true glimmer of hope in what has been a very dark cloud this week. The Platinum group metals after taking a hit yesterday, following base metals which drove a downward collapse due to demand concerns, sadly continue this morning. This indicates that overall the attitude has not changed from the investor’s point of view. Euro Zone concerns still remain and Japan intervention was rumored again last night strengthening the US dollar. Let’s hope today’s numbers are the beginning of a string of positive news to come.

	DEC-Z	Sep-U	Oct-V	Sep-U
8/5/2011 10:11	Gold	Silver	Platinum	Palladium
Last	1,661.10	39.10	1,713.30	742.05
Price Change	2.10	(0.83)	(16.10)	(10.90)
Current Low	1,661.20	38.34	1,713.60	742.20
Current High	1,673.00	39.87	1,727.50	754.00
EFP	2.40/2.90	.01/.04	2/6	0/4
London PM Fixes:
AU	1,658.75	PT	1,709.00
PD	742.00
London AM Fixes:
AU	1,665.00	PT	1,700.00
PD	739.00	AG	39.240
	RH	1,925.00	RU	175.00
			IR	1,100.00
EUR	1.4184	1.4232	1.4186
JPY	78.43	79.41	78.45
GBP	1.6318	1.6351	1.6320
Copper	4.20	Crude	85.94

Date	Time	Statistic	For	Actual	Forecast	Expects	Prior	Revised
5-Aug	8:30 AM	Nonfarm Payrolls	Jul	117K	50K	84K	46K	18K
5-Aug	8:30 AM	Nonfarm Private Payrolls	Jul	154K	75K	100K	80K	57K
5-Aug	8:30 AM	Unemployment Rate	Jul	9.10%	9.30%	9.20%	9.20%	-
5-Aug	8:30 AM	Hourly Earnings	Jul	0.40%	0.10%	0.20%	0.00%	-
5-Aug	8:30 AM	Average Workweek	Jul	34.3	34.3	34.3	34.3	-
5-Aug	3:00 PM	Consumer Credit	Jun	-	$5.0B	$5.0B	$5.076B	-

Heraeus Precious Metals Morning Indications

Precious metal yesterday kept on rallying up until the announcement from President Obama that the negations with Congress were making progress. At that point we saw profit taking on what is perceived adding tranquility to persons searching for Safe Haven assets. We see gold down over 1% today and silver taking an over 4% hit. Gold should have support around the high 1570s and this is expected to hold considering the rest of the Global economics are still in turmoil. All eyes will be on the emergency session in the Euro Zone tomorrow. Platinum and palladium are down as well as they are just following along for the ride with gold at the moment.

AUG-Q

Sep-U

Oct-V

Sep-U

7/20/2011 10:03

Gold

Silver

Platinum

Palladium

Last

1,586.60

38.50

1,771.20

790.25

Price Change

(14.50)

(1.72)

(5.10)

(8.05)

Current Low

1,586.80

38.56

1,772.00

791.05

Current High

1,593.20

38.84

1,780.90

796.00

EFP

.15/.65

.00/.04

2/6

0/4

London PM Fixes:

AU

1,586.00

PT

1,764.00

PD

789.00

London AM Fixes:

AU

1,584.25

PT

1,773.00

PD

793.00

AG

38.590

RH

2,000.00

RU

185.00

IR

1,100.00

EUR

1.4186

1.4240

1.4188

JPY

78.90

79.32

78.90

GBP

1.6133

1.6150

1.6138

Crude Oil -NYMEX

98.23

DJIA

12,583.19

Copper

4.43

*PLEASE NOTE THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES

Date

Time

Statistic

For

Actual

Forecast

Expects

Prior

Revised

20-Jul

7:00 AM

MBA Mortgage Index

16-Jul

15.50%

NA

NA

-5.10%

-

20-Jul

7:00 AM

MBA Mortgage Purchase Index

16-Jul

-

NA

NA

-5.10%

-

20-Jul

10:00 AM

Existing Home Sales

Jun

-

4.90M

4.93M

4.81M

-

20-Jul

10:30 AM

Crude Inventories

16-Jul

-

NA

NA

-3.124M

-

21-Jul

8:30 AM

Initial Claims

16-Jul

-

390K

411K

405K

-

21-Jul

8:30 AM

Continuing Claims

9-Jul

-

3700K

3700K

3727K

-

21-Jul

10:00 AM

Philadelphia Fed

Jul

-

0

0

-7.7

-

21-Jul

10:00 AM

Leading Indicators

Jun

-

0.30%

0.30%

0.80%

-

21-Jul

10:00 AM

FHFA Housing Price Index

May

-

NA

NA

0.80%

-