Silver and Gold Prices Slide while Crude Oil Futures Advance - Commodity Report

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(Best Syndication News) Risk was “on” as traders moved back into equities and crude oil again Friday (see futures charts below). Good economic news discouraged gold and silver investors in the United States and Asia.

The prospect of long-term low interest rates fueled a rally in gold prices early last week. But better-than-expected unemployment figures triggered a slight sell-off on Friday.

Traders were anticipating a low unemployment number Friday, however, the 8.3 percent figure was a welcome surprise. Analysts had expected the rate to hit 8.5 percent in January. Payrolls were higher than anticipated, while the number of Americans without a job was the lowest since February 2009.

Precious Metals

Gold gained seven straight sessions until the future declined on Friday (see the survey #2 chart below). April gold on the COMEX fell $19.00 (-1.08%) to $1,740.30 a troy ounce.

March silver fell 43 cents (-1.25%) to $33.75 a troy ounce. The ratio between gold and silver was 51.6.

Platinum and palladium were both higher. Copper gained 3.19 percent in one day. Hot-rolled coil steel and aluminum were unchanged.

Gold and silver prices fell on the Tokyo Commodity Exchange (TOCOM). Gold declined 20 yen (-0.46%) to ¥4,289 per gram. See the TOCOM chart below for our exclusive dollar / ounce conversions.

Energy Prices

Energy prices benefited from the positive economic news. March light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) gained $1.48 (+1.54%) to $97.84 a barrel.

Brent crude oil on the Intercontinental Exchange (ICE) added $2.51 (+2.24%) to settle at $114.58 a barrel. The difference between Brent and WTI expanded to $16.74 a barrel.

Heating oil gained; however natural gas continued to slide Friday. Henry Hub natural gas is down more than 20 percent over the last 30-business days.

Coal and uranium prices were unchanged.

Agricultural Products

Cocoa and sugar were higher on the Coffee, Sugar and Cocoa Exchange (CSCE); however coffee prices declined (see the survey #1 chart below).

Corn and Soybeans added valued on the CBOT. Wheat was lower.

Cotton gained on the NYCE.

Live cattle, feeder cattle, and lean hogs were all lower on the CME. See the survey #1 below for more details.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

2/3/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,289 Gold (standard) $1,751.64 -20 -0.46% 0.09% 5.93% -5.26%
82.6 Silver $33.73 -1 -0.60% -0.36% 14.25% -17.48%
4,027 Platinum (standard) $1,644.64 24 0.60% 0.22% 11.55% -11.44%
1,754 Palladium $716.34 20 1.15% 2.87% 10.45% -2.01%
66,150 Gasoline $3.29 1,150 1.77% -0.27% 4.70% 6.68%
52,500 Crude oil $109.60 1,350 2.64% 0.90% 4.42% 3.41%
314.6 Rubber $1.87 3 0.87% -0.60% 13.66% -13.71%
51.92 Ratio Gold/Silver 0 0.14% 0.46% -7.28% 14.82%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Table:

Friday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
2/3/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2240.50 Aluminum 3-mo LME 0.00 0.00% -0.95% 12.62% -4.86%
114.58 Brent crude (not settled) 2.51 2.24% 2.80% 7.36% 2.08%
58.78 Coal 0.00 0.00% -4.34% -14.50% -21.08%
3.90 Copper HG 0.12 3.19% 0.32% 14.94% -1.24%
97.84 Crude oil (WTI) 1.48 1.54% -1.73% -0.84% 10.94%
2.17 Ethanol ZE CBOT 0.03 1.26% -1.09% 0.74% -21.86%
1740.30 Gold GC -19.00 -1.08% 0.47% 7.85% -4.03%
3.11 Heating Oil (HO) 0.06 2.01% 1.43% 7.07% 5.66%
2.50 Natural gas NG HH -0.05 -2.15% -9.33% -20.79% -35.68%
708.45 Palladium PA 0.80 0.11% 2.71% 12.07% -0.25%
1631.90 Platinum PL 4.60 0.28% 0.71% 13.98% -9.81%
2.91 RB RBOB Gasoline 0.05 1.59% -0.42% 11.17% 6.43%
33.75 Silver SI -0.43 -1.25% -0.12% 15.39% -15.97%
720.00 Steel Hot-Roll Coil 0.00 0.00% -0.69% 5.11% 3.60%
52.15 UxC Uranium U3O8 0.00 0.00% -0.19% -0.19% -0.57%
2/3/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
369.5 Average All -0.70 -0.19% 0.62% 9.30% -4.42%
695.1 Metals Average -2.32 -0.33% 0.92% 10.85% -5.85%
40.3 Energy Average 0.58 1.46% -0.54% -1.08% -1.87%
51.6 Ratio Gold/Silver Prices 0.09 0.17% 0.59% -6.53% 14.22%
-108.4 Difference Plat-Gold 23.60 -17.88% -3.04% -40.41% 2679.49%
1.07 Ratio Plat/Gold -0.01 -1.36% -0.24% -5.38% 6.41%
1.2 Ratio Brent / WTI Prices 0.01 0.69% 4.61% 8.27% -7.99%
$16.74 Difference Brent - CL 1.03 6.56% 40.67% 107.69% -30.42%

Survey #1 Chart:

Friday Survey #1 One-Day One-Day 1 Week 30-Day 100-Day
2/3/2012 Commodity $ Change % Change % Change % Change % Change
2,240.50 Aluminum 3-mo B 0.00 0.00% -0.95% 12.62% -4.86%
114.58 Brent Crude 3.02 2.71% 2.80% 7.36% 3.98%
2,336.00 Cocoa 97.00 4.33% -1.06% 4.80% -18.63%
215 Coffee -0.80 -0.37% -1.19% -1.89% -20.65%
3.898 Copper 0.11 2.97% 0.41% 15.26% -2.21%
642.5 Corn X 100 1.00 0.16% 0.04% 4.30% -13.87%
96.34 Cotton 2.13 2.26% 0.35% 11.18% -14.38%
593 CRB Com Index 3.00 0.51% -0.50% 5.67% -7.92%
97.77 Crude oil 1.37 1.42% -1.99% -1.24% 10.40%
154.45 Feeder cattle -1.40 -0.90% -0.10% 4.69% 13.83%
1,744.80 Gold GC -14.50 -0.82% 0.59% 8.07% -4.61%
88.75 Lean hogs -1.00 -1.11% 1.63% 6.61% 6.61%
127.1 Live cattle -1.73 -1.34% -1.05% 5.32% 6.76%
2.51 Natural gas -0.05 -1.95% -9.39% -22.53% -36.46%
202.35 Orange juice -2.20 -1.08% -4.48% 24.03% 20.30%
706.35 Palladium -7.05 -0.99% 2.32% 11.39% -1.69%
1,623.80 Platinum -6.60 -0.40% -0.06% 13.55% -11.01%
33.63 Silver SI -0.52 -1.52% -1.00% 14.82% -17.73%
1,231.50 Soybeans X 100 14.50 1.19% 1.09% 6.07% -11.85%
23.92 Sugar 0.36 1.53% -1.20% 3.06% -15.54%
2.9191 Unleaded gasoline 0.04 1.36% -0.28% 11.29% 8.10%
660 Wheat X 100 -1.50 -0.23% 1.93% 6.97% -9.34%
2/3/2012 Commodity Type Change One-Day 1 Week 30-Day 100-Day
588.03 Average (All) -Alum 3.91 0.67% -0.05% 8.52% -9.45%
54.44 Energy 1.09 2.05% 0.40% 2.92% 6.03%
123.43 Livestock * -1.38 -1.10% -0.02% 5.36% 7.81%
675.95 Agricultural 13.81 2.09% -0.20% 5.72% -14.46%
822.50 Metals Minus Aluminum -5.71 -0.69% 0.61% 10.81% -6.90%

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