Gold Prices Dropped while Silver was Unchanged – USD Up vs JPY but Down vs EUR – Crude Oil Lower

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(Best Syndication News) Brent crude oil advanced today as tensions between Iran and the United States continued to fester (see forex and commodities charts below). The dollar gained against the yen but slipped against the euro despite the uncertainty in Europe.

Precious Metals

Gold prices were lower Friday and Monday after seven straight positive sessions on the COMEX (see the survey #2 chart below). Encouraging economic news and low interest rates in the United States helped propel the golden metal lower.

April gold slipped $15.40 (-0.88%) to $1,724.90 a troy ounce Monday. Silver advanced slightly to $33.75 (+0.00%). The ratio between gold and silver tightened to 51.1.

Platinum, palladium and copper were all lower. Hot-rolled coil steel and Uranium were unchanged.

Aluminum on the London Metal Exchange (LME) traded down 1.05 percent.

Precious metals were lower on the Tokyo Commodity Exchange (TOCOM). Gold futures fell 23 yen (-0.54%) to ¥4,266 per gram. See the TOCOM chart below for our exclusive dollar ounce conversions.

Energy Prices

Light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) fell 93 cents (-0.95%) to $96.91 a barrel.

Brent crude oil on the Intercontinental Exchange (ICE) added $1.25 (+1.18%) to $115.93, after a report surfaced that Nigerian rebels attacked an oil pipeline. Some analysts see a disruption in Nigeria as more disconcerting than tensions with Iran.

Coal was lower; however, natural gas, heating oil and gasoline were all higher.

Currency Exchange Rates

The U.S. dollar (USD) and Hong Kong dollar (HKD) were the laggards Monday (see cross tables below). The Australian dollar (AUD) advanced against all major currencies.

The USD fell 0.97 percent vs the AUD (see the average dollar rate chart below). The U.S. currency declined 0.80 percent vs the euro (EUR), 0.54 percent vs the British pound sterling (GBP), 0.86 percent vs the Swiss franc (CHF), and 0.15 percent vs the Canadian dollar (CAD). The greenback gained only 0.01 percent vs the Japanese yen (JPY).

The trend continued throughout the day (see the intraday chart below). The USD/JPY hit 76.69, the EUR/USD hit 1.3135, the GBP/USD hit 1.5812, the CAD/USD hit 0.996, the USD/HKD hit 7.7541, and the AUD/USD hit 1.0794.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

2/6/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,266 Gold (standard) $1,741.33 -23 -0.54% 0.00% 5.70% -5.72%
82.4 Silver $33.63 0 -0.24% 0.98% 13.19% -18.09%
4,024 Platinum (standard) $1,642.55 -3 -0.07% 1.62% 12.06% -10.64%
1,746 Palladium $712.70 -8 -0.46% 3.31% 10.51% -3.32%
66,720 Gasoline $3.31 570 0.86% 1.75% 5.64% 9.13%
53,650 Crude oil $111.95 1,150 2.19% 4.26% 6.49% 7.47%
319.6 Rubber $1.90 5 1.59% 3.20% 14.92% -11.52%
51.77 Ratio Gold/Silver 0 -0.29% -0.97% -6.62% 15.10%
* ¥ / 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 100- Day
2/6/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change High
2217.00 Aluminum 3-mo LME -23.50 -1.05% -1.18% 11.69% -7.04% 2385.00
115.93 Brent crude (not settled) 1.35 1.18% 4.68% 7.45% 3.61% 115.93
58.05 Coal -0.73 -1.24% -5.18% -17.27% -22.65% 75.78
3.86 Copper HG -0.04 -0.95% 0.99% 13.15% -2.66% 3.97
96.91 Crude oil (WTI) -0.93 -0.95% -1.89% -2.63% 7.43% 103.22
2.19 Ethanol ZE CBOT 0.02 0.92% 1.25% 0.92% -19.82% 2.79
1724.90 Gold GC -15.40 -0.88% -0.55% 7.10% -5.75% 1830.10
3.17 Heating Oil (HO) 0.06 1.81% 3.90% 9.05% 7.99% 3.17
2.55 Natural gas NG HH 0.05 2.04% -6.01% -19.53% -35.93% 4.04
705.95 Palladium PA -2.50 -0.35% 2.59% 8.20% -2.90% 731.20
1627.20 Platinum PL -4.70 -0.29% 0.84% 14.24% -10.27% 1815.90
2.93 RB RBOB Gasoline 0.01 0.46% 1.99% 10.91% 6.76% 2.93
33.75 Silver SI 0.00 0.00% 0.67% 16.19% -17.93% 41.12
720.00 Steel Hot-Roll Coil 0.00 0.00% -0.69% 5.11% 3.60% 733.00
52.15 UxC Uranium U3O8 0.00 0.00% -0.19% -0.19% -0.57% 54.45
2/6/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day 100- Day
367.8 Average All -1.63 -0.44% 0.33% 8.51% -5.56% 389.48
691.3 Metals Average -3.77 -0.54% 0.53% 9.96% -7.17% 744.69
40.2 Energy Average -0.02 -0.06% 0.06% -2.34% -2.70% 42.45
51.1 Ratio Gold/Silver Prices -0.46 -0.89% -1.20% -7.83% 14.84% 57.43
-97.7 Difference Plat-Gold 10.70 -9.87% -19.06% -47.53% 488.55% -0.80
1.06 Ratio Plat/Gold -0.01 -0.60% -1.37% -6.25% 5.04% 1.15
1.2 Ratio Brent / WTI
Price
0.03 2.15% 6.70% 10.36% -3.55% 1.32
$19.02 Difference Brent - CL 2.28 13.62% 58.90% 127.51% -12.27% 26.88

Average Dollar Rates:

Monday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
2/6/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9259 Average Against Aussie -0.97% -1.78% -5.92% -5.03%
0.7609 Average Against Euro € -0.80% -0.58% -0.64% 4.91%
76.7342 Average Against Yen ¥ 0.01% 0.65% -1.66% -0.01%
0.6321 Average Against Pound £ -0.54% -0.45% -1.30% -0.12%
0.9180 Average Against Franc -0.86% -0.45% -1.89% 4.84%
0.9962 Average Against Canadian -0.15% -0.72% -2.56% 0.56%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0800 Average Against Aussie 0.98% 1.82% 6.30% 5.30%
1.3143 Average Against Euro 0.81% 0.58% 0.64% -4.68%
0.0130 Average Against Yen -0.01% -0.64% 1.69% 0.01%
1.5821 Average Against Pound 0.54% 0.46% 1.32% 0.12%
1.0893 Average Against Franc 0.87% 0.45% 1.92% -4.61%
1.0038 Average Against Canadian 0.15% 0.73% 2.62% -0.55%

Intraday Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 2/6/2012 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 76.56 76.72 76.69 0.17% 76.657
0.00% EUR/USD 1.3125 1.3101 1.3135 0.08% 1.312
0.00% GBP/USD 1.5816 1.5804 1.5812 -0.03% 1.581
0.00% CAD/USD 0.9937 0.9967 0.996 0.23% 0.995
0.00% USD/HKD 7.7547 7.7537 7.7541 -0.01% 7.754
0.00% AUD/USD 1.0762 1.0778 1.0794 0.30% 1.078
0.00% USD/CNY 6.3027 6.3065 6.3046 0.03% 6.305

Cross Tables:

Survey 1 Febraruy 5 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.129 1.0799 1.0041 1.0888 1.5817 0.013 1.314 -
EUR € 0.0981 0.8218 0.7641 0.8286 1.2037 0.0099 - 0.761
JPY ¥ 9.8857 82.7792 76.9654 83.4634 121.246 - 100.726 76.6545
GBP £ 0.0815 0.6827 0.6348 0.6884 - 0.0082 0.8308 0.6322
CHF franc 0.1184 0.9918 0.9221 - 1.4527 0.012 1.2068 0.9184
CAD 0.1284 1.0755 - 1.0844 1.5753 0.013 1.3087 0.996
AUD 0.1194 - 0.9298 1.0083 1.4647 0.0121 1.2168 0.926
HKD 8.3737 7.7856 8.4429 12.2648 0.1012 10.1891 7.7541

One-Day Change:

Pos Means Top Currency Gained One Day Change Febraruy 5 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% 0.972% 0.160% 0.852% 0.534% 0.000% 0.798%
EUR € -0.809% 0.171% -0.637% 0.048% -0.257% -1.000% -0.795%
JPY ¥ 0.043% 1.007% 0.182% 0.882% 0.567% 0.827% 0.030%
GBP £ -0.610% 0.427% -0.377% 0.321% -1.205% 0.266% -0.535%
CHF -0.838% 0.121% -0.700% -0.309% -0.826% -0.058% -0.842%
CAD -0.156% 0.825% 0.696% 0.382% 0.000% 0.646% -0.150%
AUD $ -0.995% -0.811% -0.119% -0.435% -0.820% -0.180% -0.973%
HKD 0.966% 0.140% 0.840% 0.524% 0.000% 0.784% -0.012%

30-Day Change:

Pos Means Top Currency Gained 30- Day Change Febraruy 5 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% 6.28% 2.47% 1.86% 0.91% 1.56% 0.59%
EUR -0.30% 5.66% 1.87% 1.26% 0.33% 1.02% -0.59%
JPY -1.47% 4.40% 0.65% 0.05% -0.88% -1.19% -1.77%
GBP -0.61% 5.31% 1.54% 0.94% 0.00% -0.31% -0.91%
CHF -1.58% 4.33% 0.59% -0.93% 0.00% -1.25% -1.83%
CAD -2.13% 3.72% -0.59% -1.51% -0.76% -1.83% -2.40%
AUD -5.61% -3.59% -4.15% -5.05% -3.97% -5.36% -5.91%
HKD 5.96% 2.15% 1.55% 0.61% 1.50% 0.28% -0.30%

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