Gold and Silver Prices Higher as USD Declines vs EUR and JPY

alt text

(Best Syndication News) Commodities were generally higher Monday as traders moved away from safe-havens including government Treasuries (see forex and futures tables below). Crude oil, heating oil, natural gas and other energy products all advanced.

World Economic News

Although the Bank of Japan held their interest rates steady Tuesday, they did cut their forecast for growth. Their target interest rate remains at 0.10 percent, however, they now expect their GDP to increase two percent in 2012, down from a 2.2 percent estimate back in October.

Japanese economic activity is expected to remain “flat.” The BOJ cited European debt concerns.

European finance ministers met in Brussels Monday to discus the Greek debt situation. The consensus was that Greece needs to make more cuts. Greece has been working with creditors to ease their sovereign debt problems before they receive their next bailout package.

Analysts are quick to point that that Greece is just one problem. Even if the credit issues are worked out with the Hellenic Republic, there could be problems with other countries.

The EU decided to broaden their sanctions against Iran Monday. The council banned the importation of Iranian crude oil and petroleum products. The contracts that have already been signed can be executed until July 1st.

The European Union will also limit the exportation of equipment and technology that can be used for petroleum development. Their goal is to “target sources” of finance for their nuclear program.

Precious Metals

February gold on the COMEX jumped $14.30 (+0.86%) to $1,678.30 a troy ounce (see the survey #2 settle price chart below).

Silver for March delivery added 60 cents (+1.88%) to $32.27 an ounce. The ratio between the two metals was 52.

Platinum, palladium, and copper futures were all higher. Aluminum on the London Metal Exchange (LME) added 0.18 percent.

Commodities were higher on the Tokyo Commodity Exchange (TOCOM). Gold climbed 35 yen (+0.85%) to ¥4,160 a gram. See the TOCOM chart below for our exclusive dollar conversions.

Energy Prices

Light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) added $1.25 (+1.27%) to $99.58 a barrel.

Brent crude oil on the Intercontinental Exchange (ICE) added 78 cents (+0.71%) to $110.64 a barrel. The difference between the two benchmarks was $11.06.

Currency Exchange Rates

The Swiss franc (CHF) gained against all other major currencies Monday, while the U.S. dollar (USD) and Hong Kong dollar (HKD) declined (see the cross tables below).

The USD declined 0.08 percent vs the Australian dollar (AUD), 0.97 percent vs the euro (EUR), 0.03 percent vs the Japanese yen (JPY), 0.02 percent vs the British pound sterling (GBP), and 0.51 percent vs the Canadian dollar (CAD). See the average dollar rate chart below.

The USD turned around vs the JPY later in the day (see the intraday chart below). The USD/JPY hit 77.01, the EUR/USD hit 1.30312, the GBP/USD hit 1.5561, the CAD/USD hit 1.0082, the USD/HKD hit 7.7606, and the AUD/USD hit 1.0505.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

1/23/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,160 Gold (standard) $1,680.86 35 0.85% 2.74% -2.69% -6.03%
79.8 Silver $32.24 2 1.92% 10.37% 2.44% -19.72%
3,889 Platinum (standard) $1,571.36 85 2.23% 5.51% 3.71% -14.47%
1,708 Palladium $690.12 31 1.85% 8.31% 1.43% -8.71%
65,990 Gasoline $3.24 510 0.78% 2.33% 3.53% 6.20%
51,890 Crude oil $107.18 340 0.66% 1.25% 1.92% 0.29%
306.5 Rubber $1.81 1 0.46% 10.25% 5.44% -16.26%
52.13 Ratio Gold/Silver -1 -1.05% -6.91% -5.01% 17.05%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey#2 Settle Price Chart:

Monday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
1/23/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2221.00 Aluminum 3-mo LME 4.00 0.18% 1.49% 7.35% -6.23%
110.64 Brent crude (not settled) 0.78 0.71% 0.18% 1.01% -1.11%
60.13 Coal 0.78 1.31% -4.59% -13.08% -20.78%
3.80 Copper HG 0.05 1.43% 4.44% 8.53% -7.57%
99.58 Crude oil (WTI) 1.25 1.27% 0.89% 1.26% 14.11%
2.15 Ethanol ZE CBOT 0.02 0.98% 1.51% 0.94% -26.42%
1678.30 Gold GC 14.30 0.86% 2.91% -2.05% -6.32%
3.01 Heating Oil (HO) 0.02 0.72% -0.57% 2.73% -0.25%
2.53 Natural gas NG HH 0.18 7.77% -5.43% -26.96% -34.07%
688.30 Palladium PA 13.15 1.95% 8.48% 2.24% -8.71%
1559.10 Platinum PL 28.80 1.88% 4.86% 4.33% -14.57%
2.78 RB RBOB Gasoline -0.01 -0.23% 1.60% 8.23% 0.30%
32.27 Silver SI 0.60 1.88% 9.31% 2.32% -20.52%
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% -0.94% -0.47% 6.82%
1/23/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
359.1 Average All 4.28 1.21% 3.59% 1.95% -7.18%
669.0 Metals Average 9.48 1.44% 4.59% 1.15% -10.08%
40.1 Energy Average 0.43 1.09% -0.67% -2.54% -2.36%
52.0 Ratio Gold/Silver Prices -0.53 -1.00% -5.85% -4.27% 17.86%
-119.2 Difference Plat-Gold 14.50 -10.85% -17.22% -45.57% -456.89%
1.08 Ratio Plat/Gold -0.01 -1.00% -1.86% -6.11% 9.65%
1.1 Ratio Brent / WTI Prices -0.01 -0.55% -0.70% -0.24% -13.33%
$11.06 Difference Brent - CL -0.47 -4.08% -5.79% -1.16% -55.06%

Average Dollar Rates:

Monday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
1/23/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9525 Average Against Aussie -0.08% -0.94% -3.09% 2.08%
0.7679 Average Against Euro € -0.97% -1.83% 2.47% 10.17%
76.9742 Average Against Yen ¥ -0.03% 0.30% -0.80% 0.11%
0.6428 Average Against Pound £ -0.02% -1.30% 0.48% 4.38%
0.9269 Average Against Franc -1.01% -2.06% -0.02% 15.06%
1.0082 Average Against Canadian -0.51% -0.57% -1.22% 3.23%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0499 Average Against Aussie 0.08% 0.95% 3.19% -2.04%
1.3022 Average Against Euro 0.98% 1.87% -2.41% -9.23%
0.0130 Average Against Yen 0.03% -0.30% 0.81% -0.11%
1.5557 Average Against Pound 0.02% 1.31% -0.47% -4.19%
1.0789 Average Against Franc 1.02% 2.10% 0.02% -13.09%
0.9919 Average Against Canadian 0.51% 0.58% 1.24% -3.13%

Intraday Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 1/23/2012 Survey 5A Survey 5B Survey 5C Red = $ Down
From Previous Time PT 12:00 AM 6:00PM 9:30PM Intra-Day Average
0.00% USD/JPY 76.99 76.99 77.01 0.03% 76.997
1.05% EUR/USD 1.3012 1.3012 1.3035 0.18% 1.302
0.14% GBP/USD 1.5566 1.5566 1.5561 -0.03% 1.556
-0.67% CAD/USD 1.0083 1.0083 1.0082 -0.01% 1.008
0.01% USD/HKD 7.7609 7.7609 7.7606 0.00% 7.761
0.36% AUD/USD 1.0522 1.0522 1.0505 -0.16% 1.052
0.00% USD/CNY 6.333 6.333 6.333 0.00% 6.333

Cross Tables:

Survey 1 January 23 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.1289 1.0504 0.9918 1.0788 1.5554 0.013 1.3022 -
EUR € 0.099 0.8066 0.7617 0.8285 1.1945 0.01 - 0.7679
JPY ¥ 9.9224 80.8855 76.3759 83.0748 119.773 - 100.274 77.0045
GBP £ 0.0828 0.6753 0.6377 0.6936 - 0.0083 0.8372 0.6429
CHF franc 0.1194 0.9736 0.9194 - 1.4417 0.012 1.207 0.9269
CAD 0.1299 1.059 - 1.0877 1.5682 0.0131 1.3129 1.0082
AUD 0.1227 - 0.9442 1.0271 1.4808 0.0124 1.2397 0.952
HKD 8.1518 7.6973 8.3724 12.0709 0.1008 10.1058 7.7607

One-Day Change:

Pos Means Top Currency Gained One Day Change January 23 2012 6:00 PM
Survey 1 1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD 0.078% 0.114% 0.497% 1.030% -0.006% 0.000% 0.969%
EUR € -0.901% -0.848% -0.457% 0.060% -0.962% -0.990% -0.967%
JPY ¥ -0.059% 0.054% 0.436% 0.964% -0.074% 0.901% -0.065%
GBP £ 0.000% 0.119% 0.520% 1.034% 0.000% 0.977% 0.000%
CHF -1.077% -0.906% -0.519% -1.030% -1.639% -0.066% -1.025%
CAD -0.536% -0.386% 0.527% -0.508% -0.758% 0.467% -0.503%
AUD $ -0.081% 0.372% 0.914% -0.128% 0.000% 0.846% -0.126%
HKD 0.113% 0.495% 1.023% -0.015% 0.099% 0.960% -0.005%

30-Day Change:

Pos Means Top Currency Gained 30- Day Change January 23 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% 4.02% 1.58% -0.30% -0.60% 0.78% -2.41%
EUR 2.80% 6.58% 4.10% 2.17% 1.86% 4.17% 2.47%
JPY -0.69% 3.03% 0.61% -1.25% -1.55% -3.34% -0.95%
GBP 0.85% 4.65% 2.20% 0.30% 1.22% -1.82% 0.59%
CHF 0.51% 4.33% 1.90% -0.30% 0.84% -2.12% 0.30%
CAD -1.29% 2.40% -1.85% -2.15% -0.76% -3.93% -1.55%
AUD -3.61% -2.35% -4.15% -4.44% -2.36% -6.18% -3.87%
HKD 3.75% 1.31% -0.56% -0.86% 0.70% -2.67% -0.26%

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