Commodities and Futures – Gold Silver and Crude Oil Prices Lower

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(Best Syndication News) Crude oil prices declined during Friday’s session, however the commodity gained value after the last settle (see the futures charts below). Gold and silver prices drifted lower on the COMEX and even lower in Asia.

Discouraging news from Greece put pressure on commodities, including light sweet crude oil and coal; however, Brent crude oil advanced.

Greek lawmakers debated austerity measures last week without any resolution. The bill on the table calls for 3.3 billion euros in wage, pension and government employee job cuts. It is a tough sale and the citizenry has been protesting, but Greece needs the money before the March 20th deadline.

Precious Metals

April gold on the COMEX fell $15.90 (-0.91%) to $1,725.30 a troy ounce (see the survey #2 settle price chart below). The price continued to fall after the session close.

“When Ben Bernanke speaks, gold often rises,” said Michael Fuljenz in his weekly Metals Market Report. “By promising to keep short-term interest rates low (near zero) until at least the end of 2014, the Fed is creating a ‘level playing field’ between paper money and gold. The rap against gold is that it doesn’t provide income. These days, neither does cash.”

Silver prices slipped 31 cents (-0.92%) to $33.60 a troy ounce. The ratio between gold and silver hit 51.3.

Platinum and palladium were both lower. Copper is up 14 percent over the last month, but the metal dropped 2.93 percent on Friday.

Aluminum on the London Metal Exchanged added only 0.04 percent Friday.

Precious metals were lower on the Tokyo Commodity Exchange (TOCOM). Gold fell 42 yen (-0.97%) to ¥4,297 per gram. See the TOCOM chart below for our exclusive gram and kiloliter conversions.

Energy Prices

Light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) fell $1.17 (-1.17%) to $98.67 a barrel.

Brent crude oil on the Intercontinental Exchange (ICE) gained 11 cents (+0.09%) to $117.31 a barrel. The difference between Brent and WTI expanded to $18.64.

Natural gas was unchanged; however heating oil added value while coal prices declined.

Agricultural Commodities

Cocoa and sugar declined on the Coffee, Sugar and Cocoa Exchange (CSCE); however coffee advanced (see the survey #1 chart below). Cocoa prices declined 7.88 percent. There is a report that the Ivory Coast crop started in October will shrink by more than 21 percent.

Corn and wheat were lower on the CBOT; however soybeans added value on Friday.

Lean hogs, live cattle, and feeder cattle were all lower on the NYCE.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar ounce, barrel and gallon conversions:

2/10/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,297 Gold (standard) $1,722.57 -42 -0.97% 0.73% 11.32% -1.83%
83.7 Silver $33.11 -1 -0.83% 1.58% 23.45% -12.90%
4,145 Platinum (standard) $1,661.63 -16 -0.38% 3.01% 20.28% -5.58%
1,755 Palladium $703.54 -24 -1.35% 0.52% 9.69% -1.02%
68,350 Gasoline $3.33 -540 -0.78% 2.44% 8.60% 12.38%
54,690 Crude oil $112.07 -680 -1.23% 1.94% 8.81% 9.82%
313.8 Rubber $1.83 -7 -2.24% -1.81% 17.22% -10.65%
51.34 Ratio Gold/Silver -0.07 6 -0.14% -0.84% -9.83% 12.72%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Chart:

Friday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
2/10/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2276.00 Aluminum 3-mo LME 1.00 0.04% 1.58% 14.72% -3.05%
117.31 Brent crude (not settled) 0.11 0.09% 2.38% 9.06% 7.49%
58.05 Coal -0.12 -0.21% -1.24% -16.68% -22.83%
3.86 Copper HG -0.12 -2.93% -1.01% 14.60% 2.10%
98.67 Crude oil (WTI) -1.17 -1.17% 0.85% -0.98% 15.13%
2.23 Ethanol ZE CBOT 0.00 0.00% 2.67% 1.32% -15.46%
1725.30 Gold GC -15.90 -0.91% -0.86% 11.97% -3.01%
3.18 Heating Oil (HO) 0.17 5.62% 2.17% 8.97% 8.06%
2.48 Natural gas NG HH 0.00 0.00% -0.88% -18.17% -35.31%
703.05 Palladium PA -8.25 -1.16% -0.76% 12.81% -1.03%
1659.80 Platinum PL -7.80 -0.47% 1.71% 21.74% -6.33%
2.97 RB RBOB Gasoline -0.04 -1.26% 2.08% 11.44% 10.32%
33.60 Silver SI -0.31 -0.92% -0.43% 23.02% -14.19%
720.00 Steel Hot-Roll Coil 0.00 0.00% 0.00% -0.69% 3.60%
52.15 UxC Uranium U3O8 0.00 0.00% 0.00% -0.19% -0.57%
2/10/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
370.2 Average All -2.39 -0.64% 0.20% 12.10% -2.83%
696.3 Metals Average -5.40 -0.77% 0.18% 15.71% -4.11%
40.7 Energy Average -0.15 -0.37% 1.06% -0.97% 0.97%
51.3 Ratio Gold/Silver Prices 0.01 0.01% -0.43% -8.99% 13.03%
-65.5 Difference Plat-Gold 8.10 -11.01% -39.58% -63.10% 849.28%
1.04 Ratio Plat/Gold 0.00 -0.45% -2.53% -8.03% 3.54%
1.2 Ratio Brent / WTI Prices 0.02 1.28% 1.52% 10.15% -6.64%
$18.64 Difference Brent - CL 1.28 7.37% 11.35% 135.65% -20.48%

Survey #1 Chart:

Friday Survey #1 One-Day One-Day 1 Week 30-Day 100-Day
2/10/2012 Commodity $ Change % Change % Change % Change % Change
2,276.00 Aluminum 3-mo B 1.00 0.04% 1.58% 14.72% -3.05%
116.75 Brent Crude 0.12 0.10% 1.89% 9.08% 4.04%
2,152.00 Cocoa -72.00 -3.24% -7.88% 3.31% -20.91%
218.55 Coffee 3.35 1.56% 1.65% -2.56% -16.68%
3.858 Copper -0.10 -2.64% -1.03% 13.12% 1.92%
630.75 Corn X 100 -5.25 -0.83% -1.83% -1.14% -9.15%
90.61 Cotton 0.23 0.25% -5.95% -1.08% -14.68%
585.6 CRB Com Index -4.40 -0.75% -1.25% 4.01% -6.30%
97.9 Crude oil -1.68 -1.69% 0.13% -2.16% 14.10%
153.63 Feeder cattle -1.65 -1.06% -0.53% 2.18% 13.00%
1,720.80 Gold GC -12.10 -0.70% -1.38% 10.31% -3.48%
88.58 Lean hogs -0.97 -1.08% -0.19% 5.45% 7.70%
127.05 Live cattle -0.95 -0.74% -0.04% 3.82% 7.67%
2.48 Natural gas 0.00 0.00% -1.20% -18.42% -36.90%
186.25 Orange juice -2.95 -1.56% -7.96% 10.70% 13.91%
702.55 Palladium -7.85 -1.11% -0.54% 10.12% -2.17%
1,662.50 Platinum 5.10 0.31% 2.38% 19.66% -6.48%
33.59 Silver SI -0.37 -1.09% -0.12% 21.44% -15.03%
1,230.50 Soybeans X 100 0.50 0.04% -0.08% 2.78% -7.93%
23.22 Sugar -1.21 -4.95% -2.93% -1.23% -13.07%
2.985 Unleaded gasoline -0.03 -0.95% 2.26% 11.36% 10.48%
630 Wheat X 100 -15.50 -2.40% -4.55% -2.51% -6.67%
2/10/2012 Commodity Type Change One-Day 1 Week 30-Day 100-Day
578.60 Average (All) -Alum -5.35 -0.92% -1.60% 8.06% -7.92%
55.03 Energy -0.40 -0.72% 1.07% 3.43% 7.56%
123.09 Livestock * -1.19 -0.96% -0.28% 3.51% 7.92%
645.24 Agricultural -11.60 -1.77% -4.54% 1.77% -13.76%
824.66 Metals Minus Aluminum -3.06 -0.37% 0.26% 13.95% -4.60%
-0.92 Daily % Change (All) -Alum -0.25 36.99% -236.70% 55.49% -46.39%

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