Commodities Futures Today

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.

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.

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.

Silver and Gold Prices Fall while Crude Oil Gains – USD down vs EUR but higher vs JPY

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(Best Syndication News) Gold and silver prices dropped as Brent crude oil and WTI added value in the United States (see the futures and forex tables below). The dollar gained ground against most currencies but did slip against the euro.

Greek debt concerns nearly kept U.S. stock indexes in the red Wednesday, but word came from Europe that EU Ministers and the International Monetary Fund (IMF) will meet Thursday to review a troika report. The troika is a body of officials from the IMF, the European Central Bank (ECB), and the European Commission.

Gold and Silver Prices Advance – USD Up vs JPY but Down vs EUR – Crude Oil Higher

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(Best Syndication News) The dollar picked up steam against the yen but dropped sharply against the euro, while most commodity prices began to advance today (see forex and futures charts below). Several factors worked in favor of gold, silver and crude oil prices.

Precious Metals

Gold prices jumped after two-straight days of declines. Stock and commodity prices advanced during the testimony of Federal Reserve Board Chairman Ben Bernanke at a House Budget Committee meeting. The Fed Chair said that lawmakers should postpone budget reduction proposals and promote growth in the near-term.

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