Gold and Silver Prices Trending Higher as Markets in Asia Open Mixed – Crude Oil Slips

image of oil well

(Best Syndication News) Crude oil prices began to slide over the weekend after a run-up last week (see futures charts below). Stock markets in Asia are opening mixed after better-than-expected economic news in the United States on Thursday and Friday. Silver and gold prices are turning around since the session close.

Precious Metals

While gold prices slipped on Friday, the weekly and month trends continue in the positive direction (see the survey #2 settle price chart below). Inflation concerns have trumped economic fears, even as the Federal Reserve telegraphed their interest rate targets well into 2014. Low rates also made the golden metal an attractive investment.

April gold on the COMEX was down nearly one-half percent on Friday, however since the session close the metal has advanced $1.60 to $1778.00 a troy ounce.

March silver also disappointed investors on Friday; however the price has advanced 19 cents to $35.52 a troy ounce since the session end. The ratio between the two metals was 50.3.

Platinum and palladium were also lower. Palladium rebounded, but platinum prices did not. Copper was higher on Friday.

Commodities are higher in Asia. Over the last 100 days silver has climbed more than 25 percent on the Tokyo Commodity Exchange (TOCOM). Gold added 10 yen (+0.22%) to ¥4,627 per gram. See our exclusive dollar / ounce gallon and barrel conversions in the TOCOM chart below.

Energy Prices

Oil prices jumped to near $110 a barrel in the United States on Friday as tensions swell between Iran and the West.

The demand for gasoline in the United States is down five percent over the last year; however the price is up 13%. So despite the reduced demand, the price of gas continues to climb.

Light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) added nearly two percent on Friday. Since the settle, April WTI fell 38 cents to $109.39 a barrel.

Brent crude oil on the Intercontinental exchange (ICE) climbed 1.50 percent (see the survey #2 chart below).

Coal was higher on Friday.

Agricultural Products

Agricultural commodities were mostly higher on Friday (see the survey #1 chart below). Cocoa, coffee, and sugar were all higher on the Coffee, Sugar and Cocoa Exchange. Cocoa was up 1.20 percent and sugar climbed 1.69 percent.

Other agricultural products increased in value as potential demand increases. Corn, soybeans, and wheat were all higher on the CBOT.

Lean hogs and live cattle were lower on the NYCE; however feeder cattle futures were on the rise.

See the survey #1 chart below for more details.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

2/24/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change Change Change Change Change
4,627 Gold (standard) $1,800.33 10 0.22% 4.75% 13.55% 14.93%
91.3 Silver $32.96 0 0.22% 8.56% 23.71% 25.07%
4,477 Platinum (standard) $1,741.96 23 0.52% 6.95% 20.80% 18.28%
1,860 Palladium $723.71 14 0.76% 5.32% 17.28% 21.81%
74,690 Gasoline $3.54 580 0.78% 4.98% 14.07% 25.49%
60,410 Crude oil $120.15 670 1.12% 5.67% 15.79% 29.16%
339.9 Rubber $1.93 0 0.00% 5.56% 21.78% 6.22%
50.68 Ratio Gold/Silver 0.00 6 0.00% -3.51% -8.22% -8.11%
* ¥ / 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
2/24/2012 Energy and Metal Settle $ Change Change Change Change Change
2272.00 Aluminum 3-mo LME 0.00 0.00% 5.02% 5.19% 2.25%
125.47 Brent crude (not settled) 1.85 1.50% 4.46% 11.79% 22.10%
62.08 Coal 0.33 0.53% 5.31% -2.34% -16.02%
3.86 Copper HG 0.06 1.50% 1.90% 5.86% 22.83%
109.77 Crude oil (WTI) 1.94 1.80% 7.29% 10.77% 38.60%
2.24 Ethanol ZE CBOT 0.03 1.18% 1.54% 3.81% -10.02%
1776.40 Gold GC -9.90 -0.55% 2.78% 7.81% 9.50%
3.32 Heating Oil (HO) 0.02 0.64% 3.31% 8.57% 19.31%
2.55 Natural gas NG HH -0.07 -2.71% -0.66% -5.45% -30.44%
710.75 Palladium PA -7.65 -1.06% 2.03% 10.93% 15.75%
1715.10 Platinum PL -7.90 -0.46% 5.47% 14.42% 12.88%
3.15 RB RBOB Gasoline 0.04 1.26% 3.47% 15.43% 24.22%
35.34 Silver SI -0.22 -0.61% 5.90% 17.31% 17.47%
728.00 Steel Hot-Roll Coil 0.00 0.00% 0.00% -0.68% 7.85%
52.15 UxC Uranium U3O8 0.00 0.00% 0.00% 0.38% 0.19%
2/24/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
380.7 Average All -1.53 -0.40% 3.28% 8.96% 11.43%
715.6 Metals Average -4.27 -0.59% 3.70% 10.86% 11.78%
44.1 Energy Average 0.59 1.36% 5.53% 8.06% 15.42%
50.3 Ratio Gold/Silver Prices 0.03 0.06% -2.95% -8.10% -6.78%
-61.3 Difference Plat-Gold 2.00 -3.16% -40.08% -58.78% -40.43%
1.04 Ratio Plat/Gold 0.00 -0.10% -2.56% -5.77% -3.00%
1.1 Ratio Brent / WTI Prices 0.00 -0.30% -2.64% 0.92% -11.90%
$15.70 Difference Brent - CL -0.09 -0.57% -11.80% 19.48% -33.36%

Survey #2:

Friday Survey #1 One-Day One-Day 1 Week 30-Day 100-Day
2/24/2012 Commodity $ Change % Change % Change % Change % Change
20,190.00 Nickel 3-mo B 0.00 0.00% 1.84% N/A N/A
2,059.00 Zinc 3-mo B 0.00 0.00% 4.41% N/A N/A
2,272.00 Aluminum 3-mo B 0.00 0.00% 5.02% 5.19% 2.25%
125.47 Brent Crude 1.85 1.50% 4.46% 11.97% 24.38%
2,367.00 Cocoa 28.00 1.20% 0.00% 1.59% -9.14%
204.05 Coffee 0.80 0.39% 0.64% -12.80% -10.88%
3.87 Copper 0.04 1.16% 1.60% 6.41% 22.86%
643 Corn X 100 1.75 0.27% 0.70% 5.15% 8.52%
90.41 Cotton 1.10 1.23% -4.11% -5.52% -9.76%
600 CRB Com Index 2.00 0.33% 2.21% 4.90% 5.73%
109.62 Crude oil 1.38 1.27% 6.70% 10.26% 39.20%
157.68 Feeder cattle 0.03 0.02% 0.54% 4.51% 10.32%
1,777.90 Gold GC -3.20 -0.18% 2.54% 7.82% 9.61%
89.85 Lean hogs -0.15 -0.17% -0.31% 3.30% 2.28%
129.85 Live cattle -0.15 -0.12% 0.08% 3.76% 5.74%
2.8 Natural gas -0.08 -2.78% 0.36% 2.19% -23.71%
183.05 Orange juice -0.35 -0.19% -0.79% 2.78% 21.35%
711.5 Palladium -5.40 -0.75% 2.19% 12.40% 15.96%
1,713.50 Platinum -9.60 -0.56% 4.62% 14.72% 12.35%
35.4 Silver SI -0.19 -0.53% 5.51% 17.34% 16.49%
1,286.50 Soybeans X 100 3.50 0.27% 1.78% 8.66% 9.12%
25.22 Sugar 0.42 1.69% 6.14% 8.43% -1.10%
3.1477 Unleaded gasoline 0.04 1.17% 3.60% 14.72% 27.87%
642 Wheat X 100 2.50 0.39% 0.94% 6.12% 5.16%
2/24/2012 Commodity Type Change One-Day 1 Week 30-Day 100-Day
598.75 Average (All) -Alum 1.06 0.18% 2.35% 6.46% 4.36%
60.26 Energy 0.80 1.34% 5.40% 11.10% 29.76%
125.79 Livestock * -0.09 -0.07% 0.18% 3.96% 6.25%
680.15 Agricultural 4.72 0.70% 0.56% 3.41% -0.93%
848.43 Metals Minus Aluminum -3.67 -0.43% 3.33% 11.36% 11.81%
0.18 Daily % Change (All) -Alum 0.84 -126.98% -154.29% -114.75% -107.87%

Click here for Forex Currency Exchange Rates Today

Click here for Commodity Prices Today

Click here for Stock Market Today

Report Error4.72xl78

Share/Save/Bookmark

      

Post to Facebook

Important: The material on Best Syndication is for informational purposes only and is not meant to be advice. Authors may have or will receive monetary compensation from the company's product/s mentioned. You should always seek professional advice before making any legal, financial or medical decisions and this website cannot substitute or replace any trained professional consultation.
Use of this site means that you agree to our TERMS OF SERVICE

Advertise On This Site
Copyright © 2006-2015 By Best Syndication All Rights Reserved