Forex Trading and Commodities – Gold and Silver Prices Advance while USD was mixed vs EUR and JPY

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(Best Syndication News) Gold prices jumped again today as traders took advantage of the long-term policy signals from the Federal Reserve (see forex and futures charts below). Although inflation could be curtailed by low rates, investors balked at the weak pay-off in government Treasuries.

Precious Metals

Gold has been higher seven-straight sessions while copper, aluminum, and other utilitarian metals bounced around. April gold on the COMEX added $9.80 (+0.56%), to settle at $1,759.30 on Thursday (see survey #2 settle price chart below).

Gold buyers liked what Federal Reserve Chairman Ben Bernanke had to say today. Peter Boockvar, with Miller Tabak, said that as long as the central banks of the world keep printing money, gold will continue to rise. “Gold’s best friend is Ben Bernanke,” Boockvar told reporters.

Silver also climbed, up 37 cents (+1.09%) to $34.18 a troy ounce. The ratio between gold and silver tightened to 51.5.

Platinum and palladium were higher, while copper dropped 1.59 percent. Aluminum on the London Metal Exchange dropped 0.64 percent while hot-rolled steel remained unchanged in New York.

The upward trend in precious metals continued on the Tokyo Commodity Exchange (TOCOM). Gold added 19 yen (+0.44%) to ¥4,309 per gram. See the TOCOM chart below for our exclusive dollar – ounce conversions.

Energy Prices

Brent crude oil was higher while light sweet crude oil prices declined (survey #2 settle prices below). Increased volatility could push prices down to $70 in 2012, according to a Shell oil executive Thursday.

That didn’t stop traders from pushing Brent crude oil prices on the Intercontinental Exchange (ICE) up 51 cents (+0.46%) to $112.07 a barrel.

Light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) fell $1.25 (-1.28%) to $96.36 a barrel. The difference between Brent and WTI expanded to $15.71.

Natural gas, heating oil, and coal were all higher.

Currency Exchange Rates

The British pound sterling (GBP) and the Swiss franc (CHF) advanced against other major world currencies Thursday (see the cross tables below). The Australian dollar (AUD) declined broadly.

The U.S. dollar (USD) was mixed against most world currencies (see the average dollar rate chart below). The greenback gained 0.06 percent vs the Japanese yen (JPY), but slipped only slightly against the euro (EUR) and the Canadian dollar (CAD).

Throughout the day the trend continued (see intraday chart below). The USD/JPY hit 76.2, the EUR/USD hit 1.3143, the GBP/USD hit 1.5809, the CAD/USD hit 0.999, the USD/HKD hit 7.7564, and the AUD/USD hit 1.0696.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar / ounce gallon conversions:

2/2/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,309 Gold (standard) $1,758.42 19 0.44% 0.19% 6.47% -6.41%
83.1 Silver $33.91 1 0.85% -0.48% 13.99% -18.77%
4,003 Platinum (standard) $1,633.55 13 0.33% -0.60% 10.89% -12.75%
1,734 Palladium $707.61 16 0.93% 0.00% 10.38% -6.32%
65,000 Gasoline $3.23 -460 -0.70% -2.45% 4.03% 4.10%
51,150 Crude oil $106.70 -320 -0.62% -2.65% 2.88% -0.20%
311.9 Rubber $1.86 1 0.22% -3.56% 14.54% -15.24%
51.85 Ratio Gold/Silver 0 -0.40% 0.67% -6.60% 15.22%
* ¥ / 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
2/2/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2240.50 Aluminum 3-mo LME -14.50 -0.64% -0.95% 12.62% -6.78%
112.07 Brent crude (not settled) 0.51 0.46% 2.06% 8.13% -0.62%
58.78 Coal 0.53 0.91% -4.16% -13.90% -21.10%
3.78 Copper HG -0.06 -1.59% -3.09% 12.21% -5.18%
96.36 Crude oil (WTI) -1.25 -1.28% -3.35% -0.90% 10.45%
2.15 Ethanol ZE CBOT -0.02 -1.06% -1.87% 0.28% -22.36%
1759.30 Gold GC 9.80 0.56% 1.89% 8.76% -5.39%
3.05 Heating Oil (HO) 0.01 0.24% -0.02% 7.14% 2.25%
2.55 Natural gas NG HH 0.17 7.22% -1.96% -18.35% -34.76%
707.65 Palladium PA 11.35 1.63% 1.98% 12.93% -4.00%
1627.30 Platinum PL 6.70 0.41% 0.84% 13.57% -11.46%
2.87 RB RBOB Gasoline -0.02 -0.81% 0.78% 10.57% 3.53%
34.18 Silver SI 0.37 1.09% 1.28% 15.71% -17.80%
720.00 Steel Hot-Roll Coil 0.00 0.00% -1.37% 5.11% 3.60%
52.15 UxC Uranium U3O8 0.00 0.00% -0.19% -0.19% 3.37%
2/2/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
370.2 Average All 2.01 0.54% 0.90% 9.63% -5.99%
697.4 Metals Average 4.69 0.68% 1.46% 11.22% -7.64%
39.7 Energy Average -0.01 -0.03% -1.31% -0.73% -3.18%
51.5 Ratio Gold/Silver Prices -0.27 -0.52% 0.60% -6.00% 15.09%
-132.0 Difference Plat-Gold -3.10 2.40% 16.92% -28.53% 511.11%
1.08 Ratio Plat/Gold 0.00 0.15% 1.04% -4.23% 6.86%
1.2 Ratio Brent / WTI Prices 0.02 1.76% 5.60% 9.12% -10.03%
$15.71 Difference Brent - CL 1.76 12.62% 55.39% 145.47% -38.46%

Average Dollar Rate Chart:

Thursday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
2/2/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9351 Average Against Aussie 0.10% -1.28% -5.72% -3.61%
0.7609 Average Against Euro € 0.00% 0.14% -0.74% 3.47%
76.2411 Average Against Yen ¥ 0.06% -0.68% -2.36% -0.90%
0.6316 Average Against Pound £ -0.03% -0.91% -1.05% -0.17%
0.9172 Average Against Franc 0.01% 0.08% -2.01% 3.56%
0.9991 Average Against Canadian 0.00% -0.63% -2.75% 0.44%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0694 Average Against Aussie -0.10% 1.30% 6.06% 3.75%
1.3142 Average Against Euro 0.00% -0.14% 0.74% -3.35%
0.0131 Average Against Yen -0.06% 0.68% 2.41% 0.91%
1.5833 Average Against Pound 0.03% 0.92% 1.06% 0.17%
1.0903 Average Against Franc -0.01% -0.08% 2.05% -3.44%
1.0009 Average Against Canadian 0.00% 0.63% 2.82% -0.44%

Intraday Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 2/2/2012 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 76.16 76.18 76.2 0.05% 76.180
-0.07% EUR/USD 1.3142 1.3128 1.3143 0.01% 1.314
-0.15% GBP/USD 1.5802 1.5809 1.5826 0.15% 1.581
-0.03% CAD/USD 0.9991 0.9995 0.999 -0.01% 0.999
0.00% USD/HKD 7.7553 7.7565 7.7564 0.01% 7.756
0.03% AUD/USD 1.0708 1.0686 1.0696 -0.11% 1.070
0.00% USD/CNY 6.3017 6.305 6.3035 0.03% 6.303

Cross Tables:

Survey 1 Febraruy 2 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.1289 1.0696 1.0007 1.0903 1.5838 0.0131 1.3141 -
EUR € 0.0981 0.8139 0.7615 0.8296 1.2052 0.01 - 0.7609
JPY ¥ 9.8245 81.507 76.2589 83.0808 120.69 - 100.142 76.2025
GBP £ 0.0814 0.6753 0.6319 0.6884 - 0.0083 0.8297 0.6314
CHF franc 0.1183 0.9811 0.9179 - 1.4527 0.012 1.2054 0.9172
CAD 0.1288 1.0688 - 1.0895 1.5826 0.0131 1.3132 0.9993
AUD 0.1205 - 0.9356 1.0193 1.4807 0.0123 1.2286 0.9349
HKD 8.2963 7.7621 8.4565 12.2846 0.1018 10.193 7.7564

One-Day Change:

Pos Means Top Currency Gained One Day Change Febraruy 2 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% -0.093% -0.020% 0.018% 0.070% 0.000% -0.015%
EUR € 0.000% -0.086% 0.000% 0.024% 0.083% 0.000% 0.013%
JPY ¥ 0.067% -0.011% 0.071% 0.097% 0.151% 0.068% 0.082%
GBP £ -0.123% -0.163% -0.079% -0.058% 0.000% -0.084% -0.063%
CHF 0.000% -0.102% -0.022% 0.055% 0.000% -0.025% -0.011%
CAD 0.000% -0.084% 0.028% 0.076% 0.000% 0.000% 0.020%
AUD $ 0.083% 0.086% 0.108% 0.162% 0.000% 0.073% 0.096%
HKD -0.078% 0.004% 0.030% 0.084% -0.098% 0.000% 0.015%

30-Day Change:

Pos Means Top Currency Gained 30- Day Change Febraruy 2 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% 5.50% 2.71% 1.38% 1.09% 1.55% 0.22%
EUR 0.10% 5.26% 2.48% 1.13% 0.85% 2.04% -0.24%
JPY -1.72% 3.36% 0.63% -0.69% -0.97% -1.81% -2.03%
GBP -0.73% 4.37% 1.62% 0.28% 1.22% -0.85% -1.07%
CHF -1.00% 4.08% 1.32% -0.28% 0.00% -1.12% -1.36%
CAD -2.35% 2.72% -1.30% -1.59% -0.76% -2.42% -2.64%
AUD -4.97% -2.65% -3.92% -4.19% -3.15% -5.00% -5.22%
HKD 5.18% 2.39% 1.05% 0.77% 1.80% -0.09% -0.31%

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