Gold and Silver Prices Higher while Crude Oil Drops

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(Best Syndication News) Gold and silver futures increased in value as Brent crude and WTI began to decline (see futures charts below). Natural gas finally advanced Friday after declining eight straight days.

Precious Metals

February gold on the COMEX climbed $9.50 (+0.57%) to $1,664.00 a troy ounce (see the survey #2 settle price chart below).

Silver for March delivery added $1.17 (+3.82%) to $31.68 a troy ounce. The ratio between gold and silver tightened to 52.5.

Investors who see gold as a hedge against inflation will be watching the Federal Reserve this week. Although the central bank is not likely to change their Federal Funds rate, they could institute another round of quantitative easing (QE3).

There will be a Federal Open Market Committee (FOMC) meeting statement released on Wednesday at 12:30 pm EST. More easing should put upward pressure on gold prices.

Platinum added $14.30 (+0.94%) to $1,530.30 an ounce. The difference between gold and silver tightened to $133.7. Palladium declined $2.70 (-0.40%) to $675.15 an ounce.

Copper on the COMEX slipped 1.46 percent while copper declined 1.46 percent on the London Metal Exchange (LME).

Metals were mostly higher on the Tokyo Commodity Exchange (TOCOM). Silver on the TOCOM added three yen (+4.40%) to settle at ¥78.3 per gram. See the TOCOM chart below for our exclusive dollar conversions.

Energy Prices

Light sweet crude oil (WTI) for February delivery on the New York Mercantile Exchange (NYMEX) fell $2.21 (-2.30%) to $98.33 a barrel.

Brent crude oil futures on the Intercontinental Exchange (ICE) fell 80 cents (-0.72%) to $109.86 a barrel.

Last week the U.S. Energy Information Administration (EIA) report found that demand for fuel is weak as crude oil inventories declined by 3.4 million barrels. There was an increase in gasoline stocks.

Gasoline for February delivery increased $1.17 (+3.82%) to $2.78 a gallon.

Coal and heating oil were lower; however natural gas gained value.

Agricultural Products

Sugar was unchanged on the CSCE (Coffee, Sugar and Cocoa Exchange), however cocoa and coffee prices were lower (see the survey #1 chart below).

Corn and wheat futures on the CBOT (Chicago Board of Trade) were higher, up more than one percent. Soybean prices declined 1.13 percent.

Lean hogs and live cattle futures were lower while feeder cattle futures were higher.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

1/20/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,125 Gold (standard) $1,662.83 14 0.34% 1.23% -5.22% -7.55%
78.3 Silver $31.56 3 4.40% 6.10% -2.73% -22.70%
3,804 Platinum (standard) $1,533.43 18 0.48% 2.64% -0.34% -16.32%
1,677 Palladium $676.02 -6 -0.36% 5.74% -1.64% -10.46%
65,480 Gasoline $3.21 -240 -0.37% 0.00% 2.15% 6.64%
51,550 Crude oil $106.23 -690 -1.32% -1.19% 0.29% 0.88%
305.1 Rubber $1.79 0 -0.13% 9.32% 3.92% -15.60%
52.68 Ratio Gold/Silver -2 -3.89% -4.59% -2.55% 19.60%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Chart:

Friday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
1/20/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2217.00 Aluminum 3-mo LME 5.00 0.23% 2.64% 5.17% -6.40%
109.86 Brent crude (not settled) -0.80 -0.72% -2.12% -0.86% -1.35%
59.35 Coal -0.70 -1.17% -6.64% -14.05% -21.36%
3.75 Copper HG -0.06 -1.46% 2.63% 5.64% -8.64%
98.33 Crude oil (WTI) -2.21 -2.20% -0.78% -2.15% 15.18%
2.13 Ethanol ZE CBOT 0.00 0.05% -1.02% 0.33% -27.21%
1664.00 Gold GC 9.50 0.57% 0.99% -4.63% -7.42%
2.99 Heating Oil (HO) -0.05 -1.57% -2.15% 0.20% -0.91%
2.34 Natural gas NG HH 0.02 0.90% -13.13% -31.51% -40.11%
675.15 Palladium PA -2.70 -0.40% 5.38% -1.18% -10.74%
1530.30 Platinum PL 14.30 0.94% 2.09% 0.55% -16.24%
2.78 RB RBOB Gasoline 0.46 19.91% 1.94% 7.10% -0.06%
31.68 Silver SI 1.17 3.82% 5.15% -2.73% -22.65%
733.00 Steel Hot-Roll Coil 0.00 0.00% 0.00% 8.59% 10.23%
52.50 UxC Uranium U3O8 0.00 0.00% 1.06% -0.47% 7.25%
1/20/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
354.9 Average All 1.35 0.38% 1.56% -0.74% -8.41%
659.6 Metals Average 3.70 0.56% 2.18% -2.02% -11.56%
39.7 Energy Average -0.47 -1.16% -2.72% -4.70% -2.48%
52.5 Ratio Gold/Silver Prices -1.70 -3.13% -3.96% -1.95% 19.70%
-133.7 Difference Plat-Gold 4.80 -3.47% -10.09% -39.99% -551.69%
1.09 Ratio Plat/Gold 0.00 -0.37% -1.08% -5.15% 10.53%
1.1 Ratio Brent / WTI Prices 0.02 1.51% -1.35% 1.32% -14.35%
$11.53 Difference Brent - CL 1.41 13.93% -12.25% 11.72% -55.64%

Survey#1 Chart:

Friday Survey #1 One-Day One-Day 1 Week 30-Day 100-Day
1/20/2012 Commodity $ Change % Change % Change % Change % Change
2,217.00 Aluminum 3-mo B 5.00 0.23% 2.64% 5.17% -6.40%
109.86 Brent Crude -0.80 -0.72% -1.96% -0.59% -1.35%
2,278.00 Cocoa -44.00 -1.89% -2.23% 6.30% -26.28%
225 Coffee -0.90 -0.40% -3.85% -1.96% -19.61%
3.746 Copper -0.08 -2.21% 3.00% 5.43% -9.08%
613.5 Corn X 100 6.75 1.11% 0.33% 3.50% -20.12%
98.6 Cotton 0.43 0.44% 3.04% 6.28% -5.48%
578 CRB Com Index 2.00 0.35% 1.05% 0.52% -10.25%
98.2 Crude oil -2.30 -2.29% -1.23% -2.11% 14.79%
153.85 Feeder cattle 1.07 0.70% 1.97% 7.68% 15.43%
1,658.00 Gold GC 0.70 0.04% 0.55% -4.80% -7.53%
87.58 Lean hogs -0.30 -0.34% 0.69% -1.32% 0.49%
127.8 Live cattle -1.25 -0.97% 2.12% 6.87% 10.89%
2.38 Natural gas 0.04 1.71% -13.14% -30.61% -39.44%
210.65 Orange juice 12.45 6.28% 18.28% 19.76% 30.43%
679 Palladium 5.70 0.85% 7.27% 0.67% -10.79%
1,538.10 Platinum 13.00 0.85% 2.98% 1.30% -16.19%
31.43 Silver SI 0.83 2.71% 4.18% -3.41% -24.77%
1,184.50 Soybeans X 100 -13.50 -1.13% 0.04% 4.59% -16.73%
24.84 Sugar 0.00 0.00% 6.79% 7.49% -17.37%
2.7855 Unleaded gasoline -0.04 -1.28% 1.52% 7.61% -5.33%
613 Wheat X 100 8.50 1.41% 1.32% 2.17% -22.89%
1/20/2012 Commodity Type Change One-Day 1 Week 30-Day 100-Day
569.42 Average (All) -Alum -0.41 -0.07% 1.24% 2.76% -14.55%
53.31 Energy -0.77 -1.43% -1.72% -1.67% 4.63%
123.08 Livestock * -0.16 -0.13% 1.71% 5.13% 11.34%
656.01 Agricultural -3.78 -0.57% -0.26% 5.18% -21.10%
782.06 Metals Minus Aluminum 4.03 0.52% 2.65% -1.52% -11.84%

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