Gold and Silver Prices Advance – USD Up vs JPY but Down vs EUR – Crude Oil Higher

alt text

(Best Syndication News) The dollar picked up steam against the yen but dropped sharply against the euro, while most commodity prices began to advance today (see forex and futures charts below). Several factors worked in favor of gold, silver and crude oil prices.

Precious Metals

Gold prices jumped after two-straight days of declines. Stock and commodity prices advanced during the testimony of Federal Reserve Board Chairman Ben Bernanke at a House Budget Committee meeting. The Fed Chair said that lawmakers should postpone budget reduction proposals and promote growth in the near-term.

April gold on the COMEX added $23.50 (+1.36%) to $1,748.40 a troy ounce (see survey #2 chart below).

Silver for March delivery added 44 cents (+1.32%) to $34.19 an ounce. The ratio between gold and silver expanded to 51.1.

Aluminum on the London Metal Exchange (LME) declined, but copper, platinum, and palladium in the United States climbed higher.

Commodities are advancing on the Tokyo Commodity Exchange (TOCOM). Gold gained 77 yen (-1.80%) to ¥4,343 per gram. See the TOCOM chart below for our exclusive dollar ounce conversions.

Energy Prices

Light sweet crude oil (WTI) advanced $1.50 (+1.55%) to $98.41 a barrel.

A disruption in Nigeria and a possible disruption in the Middle East helped boost Brent crude oil prices. Brent crude on the Intercontinental Exchange (ICE) added 30 cents (+0.26%) to $116.23 a barrel. The difference between Brent and WTI tightened to $17.82.

Natural gas prices were lower, but heating oil gained in value.

Forex - Currency Exchange Rates

The euro (EUR) and British pound sterling (GBP) gained broadly against all major currencies (see the cross tables below). Reports from Europe suggest that the ECB may be willing to make concessions on their holdings of Greek debt. This news helped strengthen the euro.

The U.S. dollar (USD) gained against the Japanese yen (JPY) but declined against all other major currencies (see the average dollar rate chart below). The greenback fell 0.36 percent vs the Australian dollar (AUD), 0.60 percent vs the Swiss franc (CHF) and 0.21 percent vs the Canadian dollar (CAD).

Later in the day the U.S. currency turned around vs the CAD and HKD (see the intraday chart below). The USD/JPY hit 77.06, the EUR/USD hit 1.3273, the GBP/USD hit 1.5916, the CAD/USD hit 0.9939, the USD/HKD hit 7.7542, the AUD/USD hit 1.0841.

By: Tom Madison
Business Reporter

TOCOM Chart with out exclusive dollar chart:

2/7/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,343 Gold (standard) $1,751.36 77 1.80% 1.24% 7.66% -3.08%
84.9 Silver $33.64 3 3.03% 3.03% 17.75% -14.42%
4,099 Platinum (standard) $1,628.89 75 1.86% 2.73% 14.02% -8.38%
1,763 Palladium $701.36 17 0.97% 2.62% 6.85% -1.34%
67,400 Gasoline $3.25 680 1.02% 2.96% 6.28% 9.95%
54,170 Crude oil $107.41 520 0.97% 5.25% 7.06% 7.87%
324.9 Rubber $1.85 5 1.66% 4.40% 16.79% -10.15%
51.15 Ratio Gold/Silver -0.62 6 -1.19% -1.75% -8.57% 13.24%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Chart Below:

Tuesday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
2/7/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2215.00 Aluminum 3-mo LME -2.00 -0.09% -3.61% 11.59% -6.38%
116.23 Brent crude (not settled) 0.30 0.26% 4.73% 7.66% 3.41%
57.87 Coal -0.18 -0.31% -2.13% -17.25% -22.84%
3.88 Copper HG 0.01 0.30% 2.27% 11.72% -0.23%
98.41 Crude oil (WTI) 1.50 1.55% -0.07% -1.27% 10.68%
2.21 Ethanol ZE CBOT 0.02 0.82% 2.03% 1.19% -18.77%
1748.40 Gold GC 23.50 1.36% 0.46% 8.87% -4.28%
3.19 Heating Oil (HO) 0.02 0.64% 4.18% 10.39% 8.35%
2.47 Natural gas NG HH -0.08 -3.06% -1.24% -20.62% -38.80%
708.75 Palladium PA 2.80 0.40% 3.32% 6.49% -1.45%
1652.20 Platinum PL 25.00 1.54% 4.21% 15.58% -9.01%
2.93 RB RBOB Gasoline 0.00 -0.01% 1.39% 8.94% 7.40%
34.19 Silver SI 0.44 1.32% 2.80% 17.57% -15.51%
720.00 Steel Hot-Roll Coil 0.00 0.00% 0.00% 5.11% 3.60%
52.15 UxC Uranium U3O8 0.00 0.00% -0.19% -0.19% -0.57%
2/7/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
371.6 Average All 3.81 1.04% 2.01% 9.32% -4.40%
699.9 Metals Average 8.63 1.25% 2.40% 10.93% -5.81%
40.5 Energy Average 0.23 0.56% 1.47% -1.78% -1.88%
51.1 Ratio Gold/Silver Prices 0.02 0.05% -2.28% -7.40% 13.29%
-96.2 Difference Plat-Gold 1.50 -1.54% -37.90% -45.50% 807.55%
1.06 Ratio Plat/Gold 0.00 -0.17% -3.60% -5.81% 5.21%
1.2 Ratio Brent / WTI Prices -0.02 -1.27% 4.81% 9.05% -6.57%
$17.82 Difference Brent - CL -1.20 -6.31% 42.56% 115.22% -24.14%

Average Dollar Rates:

Tuesday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
2/7/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9226 Average Against Aussie -0.36% -1.24% -6.24% -4.48%
0.7534 Average Against Euro € -0.98% -0.98% -1.53% 3.98%
77.0088 Average Against Yen ¥ 0.36% 1.07% -0.90% 0.27%
0.6284 Average Against Pound £ -0.58% -0.54% -1.57% -0.67%
0.9125 Average Against Franc -0.60% -0.50% -2.30% 4.42%
0.9941 Average Against Canadian -0.21% -0.50% -2.44% 1.00%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0839 Average Against Aussie 0.36% 1.26% 6.65% 4.69%
1.3273 Average Against Euro 0.99% 0.99% 1.55% -3.82%
0.0130 Average Against Yen -0.36% -1.06% 0.90% -0.27%
1.5914 Average Against Pound 0.59% 0.54% 1.59% 0.68%
1.0959 Average Against Franc 0.60% 0.50% 2.35% -4.23%
1.0059 Average Against Canadian 0.21% 0.51% 2.51% -0.99%

Intraday Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 2/7/2012 Survey 5A Survey 5B Survey 5C Red = $ Down
From Previous Time PT 12:00 AM 6:00PM 9:30PM Intra-Day
0.09% USD/JPY 76.76 77.06 77.06 0.39%
0.86% EUR/USD 1.3248 1.3246 1.3273 0.19%
0.53% GBP/USD 1.5896 1.5894 1.5916 0.13%
-0.05% CAD/USD 0.9955 0.9957 0.9939 -0.16%
-0.01% USD/HKD 7.7532 7.7535 7.7542 0.01%
-0.02% AUD/USD 1.0792 1.0784 1.0841 0.45%
0.00% USD/CNY 6.3046 6.2951 6.294 -0.17%

Cross Tables:

Survey 1 February 7 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.129 1.0834 1.0057 1.0953 1.5913 0.013 1.3266 -
EUR € 0.0972 0.8167 0.7581 0.8257 1.1996 0.0098 - 0.7538
JPY ¥ 9.9378 83.4857 77.4993 84.4021 122.625 - 102.223 77.0583
GBP £ 0.081 0.6808 0.632 0.6883 - 0.0082 0.8336 0.6284
CHF franc 0.1177 0.9891 0.9182 - 1.4529 0.0118 1.2111 0.913
CAD 0.1282 1.0772 - 1.0891 1.5823 0.0129 1.319 0.9943
AUD 0.119 - 0.9283 1.011 1.4688 0.012 1.2244 0.923
HKD 8.4008 7.7984 8.493 12.3392 0.1006 10.2862 7.754

One-Day Change:

Pos Means Top Currency Gained One Day Change February 7 2012 6:00 PM
Survey 1 1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD 0.000% 0.324% 0.159% 0.597% 0.607% 0.000% 0.959%
EUR € -0.917% -0.621% -0.785% -0.350% -0.341% -1.010% -0.946%
JPY ¥ 0.527% 0.853% 0.694% 1.125% 1.138% 1.485% 0.527%
GBP £ -0.613% -0.278% -0.441% -0.015% 0.000% 0.337% -0.601%
CHF -0.591% -0.272% -0.423% 0.014% -1.667% 0.356% -0.588%
CAD -0.156% 0.158% 0.433% 0.444% -0.769% 0.787% -0.171%
AUD $ -0.335% -0.161% 0.268% 0.280% -0.826% 0.625% -0.324%
HKD 0.324% 0.164% 0.593% 0.607% -0.593% 0.953% -0.001%

30-Day Change:

Pos Means Top Currency Gained 30- Day Change February 7 2012 6:00 PM
Survey 1 1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD 0.31% 6.62% 2.85% 2.55% 1.90% 1.56% 1.58%
EUR -1.22% 4.96% 1.26% 0.95% 0.33% 0.00% -1.55%
JPY -0.90% 5.34% 1.62% 1.32% 0.68% 0.36% -1.20%
GBP -1.58% 4.63% 0.94% 0.63% 0.00% -0.32% -1.87%
CHF -2.24% 3.97% 0.31% -0.62% -1.67% -0.95% -2.48%
CAD -2.51% 3.66% -0.30% -0.93% -1.53% -1.25% -2.78%
AUD -5.93% -3.53% -3.82% -4.42% -4.76% -4.73% -6.21%
HKD 6.30% 2.55% 2.23% 1.59% 0.90% 1.27% -0.30%

Click here for Forex Currency Exchange Rates Today

Click here for Commodity Prices Today

Click here for Stock Market Today

Report Error

Share/Save/Bookmark

      

Post to Facebook

Important: The material on Best Syndication is for informational purposes only and is not meant to be advice. Authors may have or will receive monetary compensation from the company's product/s mentioned. You should always seek professional advice before making any legal, financial or medical decisions and this website cannot substitute or replace any trained professional consultation.
Use of this site means that you agree to our TERMS OF SERVICE

Advertise On This Site
Copyright © 2006-2015 By Best Syndication All Rights Reserved