Silver and Gold Prices Higher – USDJPY up EURUSD down on Good US Economic News – Crude Oil Higher

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(Best Syndication News) The U.S. dollar and commodities both moved upward Thursday while lingering European debt issues continued to pester the euro (see the forex and futures charts below). The Japanese yen and the Australian dollar declined broadly.

Economic News

The U.S. Department of Labor reported better than expected jobs numbers on Thursday. Last week, initial jobless claims fell to just 358,000, down from 373,000 the week before. Economists had expected about 370,000 claims.

There were 3.151 million continuing claims, up from 3.437 million the previous week. This was higher than analyst expectations.

Greek sovereign debt issues have been weighing heavy on the markets. Greek lawmakers and European Finance ministers have been wrangling over what needs to be done before another round of bailout money is provided to the Hellenic republic. On Friday, EU ministers said they need an additional $430 million in austerity cuts.

Lawmakers need to work-out the details before March 20th to avoid a default.

Precious Metals

April gold futures on the COMEX added $9.90 (+0.57%) to $1,741.20 a troy ounce (see the survey #2 chart below). Since the settle, futures are 22 dollars lower to $1718.60.

Silver added four cents (+0.63%) to $33.92 a troy ounce. The ratio between gold and silver tightened to 51.3.

Platinum and palladium were lower, however copper gained in value.

Gold and silver prices on the Tokyo Commodity Exchange (TOCOM) were higher. Gold added 19 yen (+0.44%) to ¥4,339 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 $1.13 (+1.14%) to $99.84 a barrel.

Brent crude oil on the Intercontinental Exchange (ICE) was $117.20. The difference between the two benchmarks was $17.36.

Natural gas was higher but heating oil declined.

Forex Trading and Current Exchange Rates

The Australian dollar (AUD) and Japanese yen (JPY) were the big losers Thursday (see the cross tables below).

The U.S. dollar (USD) gained broadly (see the average dollar charts below). The greenback gained 0.21 percent vs the euro (EUR), 0.10 percent vs the British pound sterling (GBP), 0.14 percent vs the Swiss franc (CHF), and 0.41 percent vs the Canadian dollar (CAD).

The dollar began to slip versus the pound and Canadian dollar later in the day (see the intraday chart below). The USD/JPY hit 77.71, the EUR/USD hit 1.3262, the GBP/USD hit 1.5837, the CAD/USD 0.998, the USD/HKD hit 7.7557, and the AUD/USD hit 1.0695.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar / ounce / barrel / gallon conversions:

2/9/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change Change Change Change Change
4,339 Gold (standard) $1,738.06 19 0.44% 1.17% 10.83% -2.91%
84.4 Silver $33.29 1 1.20% 2.18% 24.12% -15.09%
4,161 Platinum (standard) $1,666.76 25 0.60% 3.33% 18.34% -7.49%
1,779 Palladium $712.61 -8 -0.45% 1.43% 9.95% -2.57%
68,890 Gasoline $3.36 580 0.85% 4.14% 8.97% 10.93%
55,370 Crude oil $113.38 720 1.32% 5.47% 9.60% 8.42%
321 Rubber $1.88 0 0.09% 2.03% 17.75% -12.01%
51.41 Ratio Gold/Silver -0.39 6 -0.75% -0.99% -10.71% 14.35%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Chart:

Thursday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
2/9/2012 Energy and Metal Settle $ Change Change Change Change Change
2275.00 Aluminum 3-mo LME 0.00 0.00% 1.54% 12.74% -4.19%
117.20 Brent crude (not settled) 0.00 0.00% 4.58% 7.26% 4.44%
58.17 Coal 0.52 0.90% -1.04% -17.16% -22.15%
3.98 Copper HG 0.07 1.76% 5.22% 18.21% 1.20%
99.84 Crude oil (WTI) 1.13 1.14% 3.61% 0.48% 13.51%
2.23 Ethanol ZE CBOT 0.01 0.31% 3.96% 0.00% -15.59%
1741.20 Gold GC 9.90 0.57% -1.03% 11.32% -4.05%
3.01 Heating Oil (HO) -0.18 -5.54% -1.31% 3.85% 0.13%
2.48 Natural gas NG HH 0.03 1.18% -3.01% -20.63% -34.97%
711.30 Palladium PA -4.60 -0.64% 0.52% 10.01% -2.72%
1667.60 Platinum PL -0.50 -0.03% 2.48% 20.17% -8.07%
3.01 RB RBOB Gasoline 0.04 1.26% 5.02% 13.63% 8.21%
33.92 Silver SI 0.21 0.63% -0.75% 24.54% -16.83%
720.00 Steel Hot-Roll Coil 0.00 0.00% 0.00% 0.00% 3.60%
52.15 UxC Uranium U3O8 0.00 0.00% 0.00% -0.19% -2.43%
2/9/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
372.6 Average All 0.47 0.13% 0.65% 11.19% -4.12%
701.7 Metals Average 0.85 0.12% 0.62% 14.37% -5.56%
40.8 Energy Average 0.22 0.54% 2.92% -1.32% -0.42%
51.3 Ratio Gold/Silver Prices -0.03 -0.06% -0.28% -10.61% 15.37%
-73.6 Difference Plat-Gold -10.40 16.46% -44.24% -58.28% 9100.00%
1.04 Ratio Plat/Gold 0.01 0.60% -3.42% -7.36% 4.37%
1.2 Ratio Brent / WTI Prices -0.01 -1.13% 0.93% 6.74% -7.99%
$17.36 Difference Brent - CL -1.13 -6.11% 10.50% 75.18% -28.44%

Average Dollar Rate Chart:

Thursday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
2/9/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9353 Average Against Aussie 1.13% 0.04% -5.06% -4.60%
0.7544 Average Against Euro € 0.21% -1.64% -2.32% 2.70%
77.6445 Average Against Yen ¥ 0.72% 1.20% 0.03% 1.51%
0.6316 Average Against Pound £ 0.10% -0.61% -2.67% -0.97%
0.9125 Average Against Franc 0.14% -1.46% -3.02% 3.02%
0.9989 Average Against Canadian 0.41% 0.12% -2.12% 0.59%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0692 Average Against Aussie -1.12% -0.04% 5.33% 4.83%
1.3255 Average Against Euro -0.21% 1.67% 2.37% -2.63%
0.0129 Average Against Yen -0.71% -1.18% -0.03% -1.49%
1.5833 Average Against Pound -0.10% 0.62% 2.74% 0.98%
1.0959 Average Against Franc -0.14% 1.48% 3.12% -2.93%
1.0011 Average Against Canadian -0.41% -0.12% 2.17% -0.58%

Intraday Dollar Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 2/9/2012 Survey 5A Survey 5B Survey 5C Red = $ Down
From Previous Time PT 12:00 AM 6:00PM 9:30PM Intra-Day
0.61% USD/JPY 77.65 77.64 77.71 0.08%
-0.05% EUR/USD 1.3289 1.3261 1.3262 -0.20%
-0.09% GBP/USD 1.5826 1.5795 1.5837 0.07%
-0.06% CAD/USD 0.9946 0.9971 0.998 0.34%
0.01% USD/HKD 7.7556 7.7558 7.7557 0.00%
-0.19% AUD/USD 1.0788 1.0712 1.0695 -0.86%
0.00% USD/CNY 6.2947 6.2942 6.2977 0.05%

Cross Tables:

Survey 1 February 9 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.1289 1.0691 1.0007 1.0957 1.5832 0.0129 1.3252 -
EUR € 0.0973 0.8067 0.7551 0.8269 1.1947 0.0097 - 0.7546
JPY ¥ 10.0183 83.0748 77.7634 85.1475 123.03 - 102.978 77.709
GBP £ 0.0814 0.6752 0.6321 0.6921 - 0.0081 0.837 0.6316
CHF franc 0.1177 0.9757 0.9133 - 1.4449 0.0117 1.2094 0.9126
CAD 0.1288 1.0683 - 1.095 1.5821 0.0129 1.3242 0.9993
AUD 0.1206 - 0.9361 1.0249 1.481 0.012 1.2396 0.9354
HKD 8.2923 7.7622 8.4992 12.2806 0.0998 10.279 7.7567

One-Day Change:

Pos Means Top Currency Gained One Day Change February 9 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% -1.128% -0.448% -0.128% -0.101% -0.769% -0.188%
EUR € 0.206% -0.945% -0.264% 0.061% 0.084% -1.020% 0.186%
JPY ¥ 0.686% -0.436% 0.247% 0.570% 0.601% 0.512% 0.700%
GBP £ 0.000% -1.041% -0.347% -0.029% -1.220% -0.095% 0.095%
CHF 0.170% -0.994% -0.317% 0.028% -0.847% -0.058% 0.121%
CAD 0.390% -0.679% 0.330% 0.355% 0.000% 0.257% 0.452%
AUD $ 1.090% 0.688% 1.005% 1.044% 0.000% 0.953% 1.135%
HKD -1.114% -0.435% -0.115% -0.085% -0.697% -0.173% 0.014%

30-Day Change:

Pos Means Top Currency Gained 30- Day Change February 9 2012 6:00 PM
Survey 1 1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD 0.23% 6.01% 2.45% 3.35% 2.48% 0.00% 2.51%
EUR -2.21% 3.41% -0.07% 0.83% -0.03% -2.02% -2.44%
JPY 0.08% 5.86% 2.31% 3.21% 2.34% 2.36% -0.14%
GBP -2.28% 3.43% -0.03% 0.85% -2.41% 0.02% -2.43%
CHF -2.97% 2.58% -0.87% -0.84% -3.31% -0.82% -3.24%
CAD -2.20% 3.47% 0.88% 0.03% -2.27% 0.05% -2.38%
AUD -5.49% -3.36% -2.51% -3.32% -5.51% -3.30% -5.67%
HKD 5.77% 2.22% 3.12% 2.26% -0.10% 2.28% -0.22%

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