Gold Prices Slide as EUR Gains vs JPY and USD – Silver and Crude Oil Declines

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(Best Syndication News) Gold prices advanced in Asia after declining in the United States (see the forex and commodity charts below). Gasoline prices up again while crude oil, gold and silver prices all fall.

World Economic News

The Statistics Canada reported that retail sales increased 0.3 percent in November compared to October. This was in line with analyst expectations of 0.3 percent.

Japan will register their first trade deficit since 1980 because of the earthquake last March. The Ministry of Finance said that there was a trade deficit in December, November and October.

On the year, there was a merchandise trade shortfall of 2.49 trillion yen (about $32 billion). Japan needed to import more oil after the Fukushima nuclear power plant was destroyed by the tsunami and subsequent explosions.

The Federal Reserve will release their Federal Open Market Committee (FOMC) statement on Wednesday. No target rate change is expected.

Precious Metals

February gold on the COMEX declined $13.80 (-0.82%) to $1,664.50 a troy ounce (see the survey #2 settle price chart below).

Silver futures for March delivery declined 30 cents (-0.91%) to $31.98 a troy ounce. The ratio between gold and silver was 52.1.

Platinum and palladium were lower. Copper was higher.

Gold was higher on the Tokyo Commodity Exchange (TOCOM). The price of gold gained eight yen (+0.19%) to ¥4,168 per gram. See the TOCOM chart below for our exclusive dollar conversions.

Energy Prices

Gasoline futures are up nearly 18 percent compared to last year; however pump prices are up only nine percent. Demand for gasoline is down about five percent compared to last January.

Refinery disruptions are partly to blame for the higher prices.

Light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) declined 63 cents (-0.63%) to $98.95 a barrel.

Brent Crude oil futures on the Intercontinental Exchange (ICE) fell six cents (-0.05%) to $110.58 a barrel. The difference between the two benchmarks was $11.63.

Natural gas and heating oil were both higher. Coal added 1.33 percent.

Currency Exchange Rates

The British pound sterling (GBP) gained broadly while the Japanese yen (JPY) declined (see the cross charts below).

The U.S. dollar (USD) was mixed vs most world currencies (see the average dollar rate chart below). The USD fell 0.32 percent vs the Australian dollar (AUD), 0.09 percent vs the euro (EUR), but gained 0.15 percent vs the Swiss franc (CHF) and 0.26 percent vs the Canadian dollar (CAD).

The greenback continued to gain against the JPY throughout the day (see intraday chart below). The USD/JPY hit 77.91, the EUR/USD hit 1.3032, the GBP/USD hit 1.5607, the CAD/USD hit 1.0106, the USD/HKD hit 7.7606, and the AUD/USD hit 1.0528.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

1/24/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,168 Gold (standard) $1,683.87 8 0.19% 1.78% -2.59% -7.89%
79.4 Silver $32.08 0 -0.50% 7.59% -0.13% -21.93%
3,880 Platinum (standard) $1,567.52 -9 -0.23% 2.54% 2.48% -15.80%
1,700 Palladium $686.80 -8 -0.47% 4.94% -0.70% -11.55%
66,290 Gasoline $3.26 300 0.45% 2.28% 4.72% 5.74%
52,260 Crude oil $107.93 370 0.71% 0.52% 3.20% -0.04%
315.5 Rubber $1.86 9 2.94% 7.39% 11.56% -15.51%
52.49 Ratio Gold/Silver 0 0.70% -5.40% -2.47% 17.98%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Chart:

Tuesday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
1/24/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2229.00 Aluminum 3-mo LME 4.00 0.18% 1.49% 7.35% -6.23%
110.58 Brent crude (not settled) -0.06 -0.05% -0.68% 1.80% -1.16%
60.93 Coal 0.80 1.33% -0.93% -11.80% -20.04%
3.81 Copper HG 0.01 0.24% 2.09% 7.34% -7.65%
98.95 Crude oil (WTI) -0.63 -0.63% -1.75% -0.46% 11.30%
2.18 Ethanol ZE CBOT 0.02 1.02% 1.54% 2.84% -25.56%
1664.50 Gold GC -13.80 -0.82% 0.54% -3.05% -9.03%
3.02 Heating Oil (HO) 0.01 0.48% -0.43% 3.84% -1.71%
2.55 Natural gas NG HH 0.03 1.15% 2.65% -23.00% -34.66%
680.00 Palladium PA -8.30 -1.21% 3.82% -0.68% -12.49%
1550.20 Platinum PL -8.90 -0.57% 1.54% 2.27% -16.37%
2.81 RB RBOB Gasoline 0.03 0.98% 1.22% 8.05% -1.28%
31.98 Silver SI -0.30 -0.91% 6.11% -0.86% -22.88%
733.00 Steel Hot-Roll Coil 0.00 0.00% 0.00% 8.59% 5.47%
52.50 UxC Uranium U3O8 0.00 0.00% -0.94% -0.47% 6.82%
1/24/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
356.9 Average All -2.22 -0.62% 1.13% 0.57% -9.80%
663.8 Metals Average -5.21 -0.78% 1.50% -0.57% -12.56%
40.1 Energy Average 0.03 0.07% -1.05% -2.44% -3.01%
52.1 Ratio Gold/Silver Prices 0.05 0.09% -5.25% -2.20% 17.96%
-114.3 Difference Plat-Gold 4.90 -4.11% -11.33% -43.13% -578.24%
1.07 Ratio Plat/Gold 0.00 -0.25% -0.99% -5.20% 8.78%
1.1 Ratio Brent / WTI Prices 0.01 0.58% 1.08% 2.28% -11.20%
$11.63 Difference Brent - CL 0.57 5.15% 9.41% 26.28% -49.39%

Average Dollar Rate Chart:

Tuesday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
1/24/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9494 Average Against Aussie -0.32% -1.42% -3.93% 1.49%
0.7672 Average Against Euro € -0.09% -1.39% 1.36% 9.29%
77.9610 Average Against Yen ¥ 1.28% 1.50% 0.34% 1.46%
0.6407 Average Against Pound £ -0.33% -1.14% -0.11% 3.79%
0.9283 Average Against Franc 0.15% -1.21% -0.76% 18.60%
1.0108 Average Against Canadian 0.26% -0.01% -1.49% 3.33%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0533 Average Against Aussie 0.33% 1.44% 4.09% -1.47%
1.3035 Average Against Euro 0.09% 1.41% -1.34% -8.50%
0.0128 Average Against Yen -1.27% -1.48% -0.34% -1.44%
1.5609 Average Against Pound 0.33% 1.15% 0.11% -3.65%
1.0773 Average Against Franc -0.15% 1.23% 0.77% -15.68%
0.9893 Average Against Canadian -0.26% 0.01% 1.51% -3.23%

Intraday Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 1/24/2012 Survey 5A Survey 5B Survey 5C Red = $ Down
From Previous Time PT 12:00 AM 6:00PM 9:30PM Intra-Day Average
0.93% USD/JPY 77.73 77.91 77.91 0.23% 77.850
-0.10% EUR/USD 1.3022 1.3032 1.3032 0.08% 1.303
0.26% GBP/USD 1.5602 1.5607 1.5607 0.03% 1.561
0.18% CAD/USD 1.01 1.0106 1.0106 0.06% 1.010
0.01% USD/HKD 7.7613 7.7606 7.7606 -0.01% 7.761
-0.23% AUD/USD 1.0481 1.0528 1.0528 0.45% 1.051
0.00% USD/CNY 6.333 6.333 6.333 0.00% 6.333

Cross Tables:

Survey 1 January 24 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.1289 1.0534 0.9896 1.0773 1.5611 0.0128 1.3035 -
EUR € 0.0989 0.8081 0.7592 0.8265 1.1976 0.0098 - 0.7672
JPY ¥ 10.0386 82.0638 77.0943 83.9264 121.611 - 101.546 77.903
GBP £ 0.0825 0.6748 0.6339 0.6901 - 0.0082 0.835 0.6406
CHF franc 0.1196 0.9778 0.9186 - 1.449 0.0119 1.2099 0.9282
CAD 0.1302 1.0645 - 1.0886 1.5774 0.013 1.3172 1.0105
AUD 0.1223 - 0.9394 1.0227 1.4819 0.0122 1.2374 0.9493
HKD 8.1748 7.6798 8.3604 12.1143 0.0996 10.1156 7.7604

One-Day Change:

Pos Means Top Currency Gained One Day Change January 24 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% 0.286% -0.222% -0.139% 0.366% -1.538% 0.100%
EUR € -0.101% 0.186% -0.328% -0.241% 0.260% -2.000% -0.091%
JPY ¥ 1.171% 1.457% 0.941% 1.025% 1.534% 1.269% 1.167%
GBP £ -0.362% -0.074% -0.596% -0.505% -1.205% -0.263% -0.358%
CHF 0.168% 0.431% -0.087% 0.506% -0.833% 0.240% 0.140%
CAD 0.231% 0.519% 0.083% 0.587% -0.763% 0.328% 0.228%
AUD $ -0.326% -0.508% -0.428% 0.074% -1.613% -0.186% -0.284%
HKD 0.282% -0.227% -0.143% 0.360% -1.190% 0.097% -0.004%

30-Day Change:

Pos Means Top Currency Gained 30- Day Change January 24 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% 3.52% 1.00% -0.12% -0.13% -0.78% -2.32%
EUR 2.70% 5.98% 3.41% 2.25% 2.24% 1.03% 2.38%
JPY 0.60% 3.87% 1.35% 0.22% 0.21% -1.99% 0.34%
GBP 0.36% 3.66% 1.13% 0.01% 0.00% -2.19% 0.14%
CHF 0.34% 3.65% 1.12% -0.02% 0.00% -2.21% 0.12%
CAD -0.76% 2.49% -1.12% -1.13% -0.76% -3.29% -0.99%
AUD -3.17% -2.43% -3.51% -3.53% -3.94% -5.64% -3.40%
HKD 3.25% 0.75% -0.38% -0.39% -0.60% -2.57% -0.26%

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