Silver and Gold Prices Advance while USD gains against the EUR but Slips vs the JPY

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(Best Syndication News) Gold, silver, and crude oil prices advanced on Wednesday, while the U.S. dollar and Japanese yen gained vs the euro (see the forex and commodity charts below). Energy prices continued to gain in value, even as equity prices fell.

Economic News

The Federal Reserve released the January 24-25 Federal Open Market Committee Meeting (FOMC) minutes Wednesday. The Fed is considering a third round of bond purchases to boost the recovery.

There were no signals for another round of eminent quantitative easing (QE3), although if unemployment and inflation targets are not met, QE is still a possibility; however, “long run” inflation expectations remain stable and inflation is near target levels.

Consumer confidence in the UK was better than expected, according to the Nationwide consumer confidence survey release early Thursday. In December their confidence index was at 38, and analysts had expected confidence to rise to 40 in January. The actual January reading was 47, above expectations but below the 49 level one year ago.

There was more good news: The Australian unemployment rate was below expectations. The Australian Bureau of Statistics said that January unemployment was at 5.1 percent, down from 5.2 percent in December. Analysts had expected the January reading to rise to 5.3 percent.

Washington lawmakers say they have reached an agreement on legislation to extend the payroll tax cuts and benefits for the long-term unemployed through 2012. The legislation should extend a tax cut for 160 million employees and provide unemployment benefits for several million Americans.

Precious Metals

April gold on the COMEX added $10.40 (+0.61%) to settle at $1,728.10 a troy ounce (see the survey #2 settle price chart below). Silver climbed to $33.41 a troy ounce. Since the settle, gold is down to $1,720.60 and silver is down to $33.24.

Aluminum on the London Metal Exchange (LME) added $10.50 to $2,216.50 a ton.

Copper and palladium prices were lower, however platinum prices advanced.

Precious metals on the Tokyo Commodity Exchange (TOCOM) declined in the evening session. Gold slipped 16 yen (-0.37%) to ¥4,358 per gram. See the TOCOM chart below for our exclusive dollar conversions.

Precious Metals

Brent crude oil and light sweet crude oil advanced in the face of declining equities Wednesday.

Light sweet crude oil on the New York Mercantile Exchange (NYMEX) gained $1.06 to $101.80 a barrel. Brent crude oil added $1.28 to $118.63 a barrel on the Intercontinental Exchange (ICE). The difference between the two benchmarks expanded to $16.83.

Natural gas was lower; however, heating oil and coal prices were higher.

Forex Trading

The Japanese yen (JPY) gained against all major currencies, while the euro (EUR) declined (see the cross tables below).

The U.S. dollar (USD) gained against all major currencies with the exception of the JPY (see the average dollar chart below). The USD gained 0.56 percent vs the Australian dollar (AUD), 0.18 percent vs the British pound sterling (GBP), 0.89 percent vs the Swiss franc (CHF), and 0.72 percent vs the Canadian dollar (CAD).

Later in the day the greenback began to gain against the JPY (see the intraday chart below). The USD/JPY hit 78.65, the EUR/USD hit 1.3022, the GBP/USD hit 1.5688, the CAC/USD hit 1.0015, the USD/HKD hit 7.7547, and the AUD/USD hit 1.0688.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

2/15/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,358 Gold (standard) $1,727.21 -16 -0.37% 0.44% 9.20% 1.82%
83.2 Silver $33.05 -1 -1.54% -1.42% 15.88% -4.70%
4,121 Platinum (standard) $1,633.28 -27 -0.65% -0.96% 16.51% -1.58%
1,725 Palladium $683.67 -16 -0.92% -3.04% 7.95% 6.42%
69,740 Gasoline $3.36 -210 -0.30% 1.23% 7.64% 19.93%
55,850 Crude oil $113.15 -150 -0.27% 0.87% 7.51% 17.04%
323.5 Rubber $1.87 0 0.00% 0.78% 23.71% -3.58%
52.38 Ratio Gold/Silver 0.62 6 1.19% 1.89% -5.77% 6.84%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Chart:

Wednesday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
2/15/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2216.50 Aluminum 3-mo LME 10.50 0.48% -2.57% 7.18% -2.10%
118.63 Brent crude (not settled) 1.28 1.09% 1.22% 4.57% 12.46%
58.75 Coal 0.07 0.12% 1.91% -15.16% -20.64%
3.80 Copper HG -0.01 -0.34% -2.76% 10.69% 8.97%
101.80 Crude oil (WTI) 1.06 1.05% 3.13% -1.38% 26.44%
2.20 Ethanol ZE CBOT -0.02 -0.77% -1.26% -1.44% -14.08%
1728.10 Gold GC 10.40 0.61% -0.18% 7.16% -0.63%
3.19 Heating Oil (HO) 0.03 0.85% 0.07% 3.29% 12.04%
2.43 Natural gas NG HH -0.11 -4.23% -0.94% -21.67% -34.55%
683.65 Palladium PA -3.60 -0.52% -4.50% 4.69% 3.22%
1638.20 Platinum PL 10.20 0.63% -1.79% 15.11% -4.23%
3.01 RB RBOB Gasoline 0.02 0.81% 1.06% 7.95% 17.45%
33.41 Silver SI 0.06 0.18% -0.88% 14.82% -8.67%
728.00 Steel Hot-Roll Coil 0.00 0.00% 1.11% -0.27% 4.30%
52.15 UxC Uranium U3O8 0.00 0.00% 0.00% -0.19% -3.34%
2/15/2012 Averages and Ratios Change One width=xl76-Day 1 Week 30-Day 100-Day
368.4 Average All 1.38 0.38% -1.00% 7.43% -0.35%
689.9 Metals Average 2.84 0.41% -1.56% 9.69% -1.58%
41.4 Energy Average 0.33 0.81% 1.97% -2.40% 6.74%
51.7 Ratio Gold/Silver Prices 0.22 0.42% 0.70% -6.67% 8.80%
-89.9 Difference Plat-Gold -0.20 0.22% 42.25% -52.58% 216.55%
1.05 Ratio Plat/Gold 0.00 -0.02% 1.64% -6.91% 3.76%
1.2 Ratio Brent / WTI Prices 0.00 0.04% -1.85% 6.02% -11.06%
$16.83 Difference Brent - CL 0.22 1.32% -8.98% 64.52% -32.63%

Cross Tables:

Survey 1 February 15 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.129 1.0692 0.998 1.08 1.5678 0.0128 1.3031 -
EUR € 0.099 0.8205 0.7658 0.8288 1.2032 0.0098 - 0.7674
JPY ¥ 10.1093 83.816 78.2324 84.6611 122.907 - 102.151 78.3928
GBP £ 0.0823 0.6819 0.6365 0.6888 - 0.0081 0.8311 0.6378
CHF franc 0.1194 0.99 0.9241 - 1.4518 0.0118 1.2066 0.926
CAD 0.1292 1.0714 - 1.0822 1.5711 0.0128 1.3057 1.0021
AUD 0.1206 - 0.9334 1.0101 1.4664 0.0119 1.2188 0.9353
HKD 8.291 7.7387 8.3746 12.1579 0.0989 10.1047 7.7546

One-Day Change:

Pos Means Top Currency Gained One Day Change February 15 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% -0.521% -0.687% -0.845% -0.185% 0.787% -0.882%
EUR € 0.917% 0.367% 0.196% 0.036% 0.711% 1.031% 0.894%
JPY ¥ -0.227% -0.737% -0.902% -1.062% -0.394% -1.098% -0.214%
GBP £ 0.244% -0.351% -0.516% -0.678% 0.000% -0.705% 0.173%
CHF 0.845% 0.324% 0.163% 0.680% 0.855% -0.033% 0.860%
CAD 0.701% 0.168% -0.157% 0.518% 0.787% -0.199% 0.703%
AUD $ 0.500% -0.160% -0.326% 0.349% 0.847% -0.360% 0.527%
HKD -0.511% -0.676% -0.837% -0.167% 0.203% -0.873% 0.014%

30-Day Change:

Pos Means Top Currency Gained 30- Day Change February 15 2012 6:00 PM
Survey 1 1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD 0.16% 4.75% 1.90% 3.07% 1.29% -0.78% 2.08%
EUR -1.88% 2.63% -0.18% 0.97% -0.77% -2.97% -2.04%
JPY 1.65% 6.32% 3.42% 4.61% 2.81% 3.61% 1.50%
GBP -1.08% 3.41% 0.60% 1.76% -3.57% 0.78% -1.27%
CHF -2.85% 1.63% -1.13% -1.72% -4.84% -0.96% -2.98%
CAD -1.75% 2.81% 1.16% -0.59% -3.03% 0.18% -1.85%
AUD -4.44% -2.73% -1.61% -3.30% -6.30% -2.55% -4.54%
HKD 4.60% 1.74% 2.91% 1.14% -1.69% 1.92% -0.15%

Average Dollar Rates:

Wednesday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
2/15/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9353 Average Against Aussie 0.56% 0.00% -4.49% -9.09%
0.7674 Average Against Euro € 0.91% 1.72% -2.02% 3.18%
78.3043 Average Against Yen ¥ -0.40% 0.85% 1.26% 2.57%
0.6378 Average Against Pound £ 0.18% 0.99% -1.25% -1.25%
0.9261 Average Against Franc 0.89% 1.49% -2.96% 1.97%
1.0020 Average Against Canadian 0.72% 0.32% -1.82% -3.16%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0692 Average Against Aussie -0.56% 0.00% 4.70% 10.00%
1.3031 Average Against Euro -0.90% -1.69% 2.06% -3.08%
0.0128 Average Against Yen 0.40% -0.84% -1.25% -2.51%
1.5678 Average Against Pound -0.18% -0.98% 1.27% 1.27%
1.0798 Average Against Franc -0.88% -1.47% 3.05% -1.94%
0.9980 Average Against Canadian -0.72% -0.32% 1.86% 3.26%

Intraday Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 2/15/2012 Survey 5A Survey 5B Survey 5C Red = $ Down
From Previous Time PT 12:00 AM 6:00PM 9:30PM Intra-Day
-0.06% USD/JPY 78.48 78.45 78.65 0.22%
-0.71% EUR/USD 1.3062 1.3037 1.3022 -0.31%
-0.03% GBP/USD 1.5692 1.5686 1.5688 -0.03%
0.44% CAD/USD 0.9993 1.0004 1.0015 0.22%
0.00% USD/HKD 7.7536 7.7539 7.7547 0.01%
-0.65% AUD/USD 1.0686 1.0726 1.0688 0.02%
0.00% USD/CNY 6.2998 6.2998 6.3015 0.03%

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