Silver and Gold Prices higher while USD gains broadly vs the JPY and EUR – Crude Oil Settles Up

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(Best Syndication News) Precious metals and energy commodities were higher Thursday, mostly because of guaranteed long-term low-interest rates (see the futures and forex charts below). Equities declined in the United States on frustrating new home sales and initial jobless claims. Platinum prices jumped.

World Economic News

The Federal Reserve’s decision to hold their federal funds target rate at historic low levels into 2014 has had an immediate effect on commodities, equities, and interest rates.

The U.S. Department of Housing and Urban Development (HUD) reported that there were 307,000 new home sales in December (seasonally adjusted at an annual rate), down 2.2 percent from November. Economists had expected between 310K and 320K.

The Department of Labor said that there were 377,000 initial jobless claims last week. This is an increase of 21,000 from the previous week. Economists had expected that number to be 375,000. There were 355,000 continuing jobless claims.

The Commerce Department reports that orders for durable goods from U.S. factories increased three percent in December 2011. Core durable goods, which do not include vehicles, jumped 2.1 percent. The core value, which is watched closely by economists to predict future business conditions, was expected to be up only 0.7 percent to 1.0 percent.

The Conference Board reported that their leading economic indicator (LEI) index increased 0.5 percent in January, while the coincident index increased 0.3 percent and the lagging index did not change. This was the biggest increase in the LEI since October.

Precious Metals

February gold on the COMEX added $26.60 (+1.56%) to $1,726.70 a troy ounce (see the survey #2 chart below). Since the settle, gold is down $7.80.

Silver for March delivery gained 62 cents (+1.88%) to $33.74 a troy ounce. The ratio between the two metals was 51.2.

Platinum prices jumped $36.40 (+2.31%) to $1,613.80 an ounce. Palladium was higher, as was copper.

Commodities were higher on the Tokyo Commodity Exchange (TOCOM). The price of silver added two yen (+1.83%) to ¥83.5 per 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 30 cents (+0.30%) to $99.70 a barrel.

Brent crude oil on the Intercontinental Exchange (ICE) declined 22 cents (-0.20%) to $109.81. The difference between the two benchmarks was $10.11.

Natural gas has been higher four-straight sessions. On Thursday the price dropped again. A warmer forecast may have something to do with the downturn, although the Energy Information Agency (EIA) said that inventories declined last week.

Heating oil and gasoline prices were higher.

Currency Exchange Rates

The Japanese yen (JPY) and Hong Kong dollar (HKD) were the big winners Thursday (see the cross tables below). The commodity currencies, including the Australian dollar (AUD) and Canadian dollar (CAD), were the losers.

The dollar rebounded Thursday after declines on Wednesday (see average dollar rates below). The USD advanced 0.08 percent vs the euro (EUR), 0.07 percent vs the British pound sterling (GBP), and 0.02 percent vs the Swiss franc (CHF).

The greenback continued to fall against the JPY throughout the day (see the intraday chart below). The USD/JPY hit 77.05, the EUR/USD hit 1.3102, the GBP/USD hit 1.5672, the CAD/USD hit 1.0037, the USD/HKD hit 7.7579, and the AUD/USD hit 1.0615.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

1/26/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,301 Gold (standard) $1,719.52 46 1.08% 4.62% 3.34% -4.85%
83.5 Silver $33.38 2 1.83% 11.33% 8.30% -18.46%
4,027 Platinum (standard) $1,609.97 86 2.18% 6.37% 7.19% -12.87%
1,734 Palladium $693.24 5 0.29% 3.03% 4.14% -11.58%
66,630 Gasoline $3.24 40 0.06% 1.38% 4.44% 5.33%
52,540 Crude oil $107.38 90 0.17% 0.57% 2.74% 0.25%
323.4 Rubber $1.89 7 2.08% 5.86% 17.30% -12.38%
51.51 Ratio Gold/Silver 0 -0.73% -6.03% -4.58% 16.69%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Chart:

Thursday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
1/26/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2262.00 Aluminum 3-mo LME 34.50 1.55% 2.26% 11.43% -7.14%
109.81 Brent crude (not settled) -0.22 -0.20% -0.77% 0.28% -4.39%
61.33 Coal -0.42 -0.68% 2.13% -10.34% -19.86%
3.90 Copper HG 0.07 1.88% 2.66% 13.37% -5.82%
99.70 Crude oil (WTI) 0.30 0.30% -0.84% -0.44% 12.11%
2.19 Ethanol ZE CBOT 0.00 0.18% 2.63% 3.60% -23.07%
1726.70 Gold GC 26.60 1.56% 4.36% 3.82% -5.60%
3.05 Heating Oil (HO) 0.03 1.14% 0.58% 4.26% 0.06%
2.61 Natural gas NG HH -0.12 -4.54% 12.19% -20.56% -35.68%
693.90 Palladium PA 1.10 0.16% 2.37% 4.79% -12.00%
1613.80 Platinum PL 36.40 2.31% 6.45% 8.14% -12.90%
2.85 RB RBOB Gasoline 0.01 0.45% 22.59% 8.43% -1.59%
33.74 Silver SI 0.62 1.88% 10.60% 7.94% -18.66%
730.00 Steel Hot-Roll Coil 0.00 0.00% -0.41% 8.15% 5.04%
52.25 UxC Uranium U3O8 0.00 0.00% -0.48% -0.95% 5.24%
1/26/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
366.8 Average All 4.60 1.27% 3.77% 5.48% -7.53%
687.4 Metals Average 10.80 1.60% 4.81% 5.62% -9.67%
40.2 Energy Average -0.06 -0.15% 0.17% -2.58% -3.96%
51.2 Ratio Gold/Silver Prices -0.16 -0.31% -5.64% -3.82% 16.05%
-112.9 Difference Plat-Gold 9.80 -7.99% -18.48% -33.90% -574.37%
1.07 Ratio Plat/Gold -0.01 -0.73% -1.96% -3.99% 8.39%
1.1 Ratio Brent / WTI Prices -0.01 -0.50% 0.07% 0.73% -14.72%
$10.11 Difference Brent - CL -0.52 -4.89% -0.10% 8.01% -61.00%

Average Dollar Rate Chart:

Thursday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
1/26/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9422 Average Against Aussie 0.25% -1.16% -6.79% -0.85%
0.7632 Average Against Euro € 0.08% -1.58% -0.86% 7.37%
76.9765 Average Against Yen ¥ -0.79% -0.03% -1.42% 0.17%
0.6379 Average Against Pound £ 0.07% -0.78% -1.34% 2.59%
0.9211 Average Against Franc 0.02% -1.63% -3.37% 17.33%
1.0035 Average Against Canadian 0.21% -0.97% -3.38% 1.29%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0614 Average Against Aussie -0.25% 1.18% 7.29% 0.85%
1.3102 Average Against Euro -0.08% 1.60% 0.86% -6.87%
0.0130 Average Against Yen 0.80% 0.03% 1.44% -0.17%
1.5677 Average Against Pound -0.07% 0.79% 1.36% -2.52%
1.0856 Average Against Franc -0.02% 1.66% 3.49% -14.77%
0.9965 Average Against Canadian -0.21% 0.98% 3.50% -1.27%

Intraday Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 1/26/2012 Survey 5A Survey 5B Survey 5C Red = $ Down
From Previous Time PT 12:00 AM 6:00PM 9:30PM Intra-Day Average
-0.12% USD/JPY 77.47 77.37 77.05 -0.54% 77.297
0.02% EUR/USD 1.3109 1.3105 1.3102 -0.05% 1.311
0.22% GBP/USD 1.5696 1.5675 1.5672 -0.15% 1.568
-0.02% CAD/USD 1.0013 1.0023 1.0037 0.24% 1.002
-0.03% USD/HKD 7.7566 7.7581 7.7579 0.02% 7.758
-0.13% AUD/USD 1.0626 1.0618 1.0615 -0.10% 1.062
0.00% USD/CNY 6.333 6.333 6.333 0.00% 6.333

Cross Tables:

Survey 1 January 26 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.1289 1.0614 0.9962 1.086 1.5676 0.013 1.3105 -
EUR € 0.0984 0.8099 0.7602 0.8287 1.1962 0.0099 - 0.7631
JPY ¥ 9.9293 81.7612 76.7376 83.6562 120.757 - 100.95 77.0315
GBP £ 0.0822 0.6771 0.6355 0.6928 - 0.0083 0.836 0.6379
CHF franc 0.1187 0.9773 0.9173 - 1.4435 0.012 1.2067 0.9208
CAD 0.1294 1.0655 - 1.0902 1.5736 0.013 1.3155 1.0038
AUD 0.1214 - 0.9386 1.0232 1.4769 0.0122 1.2347 0.9422
HKD 8.2344 7.7284 8.4252 12.1617 0.1007 10.1669 7.758

One-Day Change:

Pos Means Top Currency Gained One Day Change January 26 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% -0.235% -0.230% 0.009% -0.102% 0.775% -0.076%
EUR € 0.102% -0.173% -0.158% 0.085% -0.025% 1.020% 0.079%
JPY ¥ -0.765% -1.016% -1.011% -0.768% -0.876% -0.853% -0.780%
GBP £ 0.122% -0.133% -0.126% 0.116% 1.220% 0.024% 0.094%
CHF 0.000% -0.255% -0.239% -0.111% 0.840% -0.083% -0.011%
CAD 0.232% 0.000% 0.248% 0.134% 0.775% 0.160% 0.230%
AUD $ 0.248% 0.011% 0.255% 0.136% 0.826% 0.162% 0.245%
HKD -0.253% -0.249% -0.004% -0.113% 0.801% -0.088% -0.015%

30-Day Chart:

Pos Means Top Currency Gained 30- Day Change January 26 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% 6.13% 3.06% 2.70% 1.27% 1.56% 0.65%
EUR -0.30% 5.44% 2.41% 2.04% 0.62% 1.02% -0.64%
JPY -0.98% 4.80% 1.78% 1.42% 0.00% -0.62% -1.25%
GBP -0.96% 4.80% 1.78% 1.42% 0.00% -0.62% -1.25%
CHF -2.38% 3.33% 0.35% -1.39% -0.83% -2.01% -2.63%
CAD -2.71% 2.98% -0.35% -1.74% -2.26% -2.35% -2.98%
AUD -5.53% -2.89% -3.23% -4.58% -4.69% -5.17% -5.77%
HKD 5.84% 2.78% 2.42% 0.99% 1.00% 0.37% -0.27%

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