Metals – Market Recap – July 7,2009

Commitment of Traders as of June 30,2009

Bloomberg (Reported 7.7.09):

“July 7 (Bloomberg) -- Gold, little changed in Asia, may extend a decline to a two-week low as crude oil slipped and the dollar rallied.

Bullion fell to $920.75 an ounce yesterday, the lowest since June 23, as oil led a drop in commodities on concern the global economic recovery will falter, damping demand for the precious metal as an inflation hedge.“ Gold, Little Changed, May Extend Decline on Dollar, Crude Oil

Reuters (Reported 7.7.09):

“TOKYO (Reuters) - Gold prices were little changed on Tuesday, hovering below $930 per ounce as growing doubts about prospects for a quick sustainable recovery in the global economy helped halt the dollar's fall against major currencies.” Gold hovers below $930 as dollar eyed

NS Futures (Reported 7.6.09):

“Fears of sustained slowing look to push longs out of position…” Full Report

ScotiaMocatta (Reported 7.6.09):

“Gold lost ground overnight and opened at 922.75/923.75 in New York. Slumping equity markets and weaker oil prices inspired light selling as the session began, dipping to an intraday low of 919.75/920.75. However it later became well bid and climbed in front of the London fix, peaking at 925.50/926.50. Profit taking took it lower, but traded within a range as the market was very thin, finally settling at 923.50/924.50.” Full Report

Commitment of Traders as of June 30,2009

Metals – Market Recap – July 6,2009

Bloomberg (Reported 7.6.09):

“July 6 (Bloomberg) -- Gold declined in Asian trading as the dollar advanced and crude oil tumbled, reducing demand for the precious metal as a store of value.

Bullion slid 0.8 percent last week as the dollar index, which tracks the greenback against six major currencies, gained 0.6 percent and oil slumped 3.5 percent. Gold is typically seen as a hedge against accelerating consumer prices and an alternative to a depreciating currency.” Gold Declines in Asian Trade as Dollar Climbs, Crude Oil Slumps

Reuters (Reported 7.6.09):

“LONDON, July 6 (Reuters) - Inflows into precious metals-backed exchange-traded funds slowed in the second quarter from record levels in the first three months of 2009, as signs the financial markets were stabilising knocked demand for the metal as a haven from risk.” Precious metals holdings of exchange-traded funds

NS Futures (Reported 7.2.09):

“Those holding long positions should seek long put protection…” Full Story

Metals – Market Recap – July 6,2009

Bloomberg (Reported 7.6.09):

“July 6 (Bloomberg) -- Gold declined in Asian trading as the dollar advanced and crude oil tumbled, reducing demand for the precious metal as a store of value.

Bullion slid 0.8 percent last week as the dollar index, which tracks the greenback against six major currencies, gained 0.6 percent and oil slumped 3.5 percent. Gold is typically seen as a hedge against accelerating consumer prices and an alternative to a depreciating currency.” Gold Declines in Asian Trade as Dollar Climbs, Crude Oil Slumps

Reuters (Reported 7.6.09):

“LONDON, July 6 (Reuters) - Inflows into precious metals-backed exchange-traded funds slowed in the second quarter from record levels in the first three months of 2009, as signs the financial markets were stabilising knocked demand for the metal as a haven from risk.” Precious metals holdings of exchange-traded funds

NS Futures (Reported 7.2.09):

“Those holding long positions should seek long put protection…” Full Story

Gold Straddles – End of Day - for July 2,2009

Straddle values generated from closing markets

Metals – Market Recap – July 3,2009

Bloomberg (Reported 7.3.09):

“July 3 (Bloomberg) -- Gold, little changed in London today, may gain as rising unemployment in the U.S. increases concern the global recession will continue, boosting demand for the metal as an alternative investment.

A report yesterday showed U.S. employers cut more jobs than forecast in June and the jobless rate rose to the highest in almost 26 years. European and Asian equities declined today after the MCSI World Index of shares dropped the most in 10 days yesterday. “ Gold, Little Changed in London, May Advance on Haven Demand

Reuters (Reported 7.3.09):

“LONDON (Reuters) - Gold rose on Friday, steadying above $931 per ounce as the dollar lost ground versus the euro, with deeper concerns over the U.S. economic outlook also underpinning the metal.” Gold steady above $931; tracks dollar retreat vs euro

NS Futures (Reported 7.2.09):

“Those holding long positions should seek long put protection…” Full Report

Gold Straddles – End of Day - for July 2,2009

Straddle values generated from closing markets

Metals – Market Recap – July 2,2009

Bloomberg (Reported 7.2.09):

“July 2 (Bloomberg) -- Gold declined in Asian trading as a gain in the dollar curbed the precious metal’s appeal as an alternative investment.

The dollar climbed from a three-week low against the euro after a Chinese official said he hoped the greenback would remain stable and was “not aware” of a plan to discuss a new reserve currency at next week’s Group of Eight meeting. Gold surged 1.5 percent yesterday, the largest closing gain since June 4, as the dollar slumped. ” Gold Declines in Asia as Strengthening Dollar Reduces Appeal

Reuters (Reported 7.2.09):

“LONDON (Reuters) - Gold fell toward $930 per ounce on Thursday, losing ground as the dollar strengthened broadly ahead of monthly U.S. jobs data that investors expect to provide more clarity on the pace of economic recovery.

Spot gold stood at $932.05 at 6:41 a.m. EDT, falling from $939.95 late in New York on Wednesday.” Gold slips ahead of data; dollar strengthens

Wall Street Journal (Reported 7.2.09):

“Private-sector jobs data and a report that China wants debate on a new reserve currency dealt a one-two blow to the dollar but revived gold.

The nearby July gold contract rose $13.90, or 1.5%, to $941 an ounce on the Comex division of the New York Mercantile Exchange. The most-active August contract rose $13.90 to $941.30, after losing $13.30 the prior day.” Dollar, Jobs Reports Boost Gold

NS Futures (Reported 7.1.09):

“Those holding long positions should seek long put protection…” Full Report

Metals – Market Recap – July 2,2009

Bloomberg (Reported 7.2.09):

“July 2 (Bloomberg) -- Gold declined in Asian trading as a gain in the dollar curbed the precious metal’s appeal as an alternative investment.

The dollar climbed from a three-week low against the euro after a Chinese official said he hoped the greenback would remain stable and was “not aware” of a plan to discuss a new reserve currency at next week’s Group of Eight meeting. Gold surged 1.5 percent yesterday, the largest closing gain since June 4, as the dollar slumped. ” Gold Declines in Asia as Strengthening Dollar Reduces Appeal

Reuters (Reported 7.2.09):

“LONDON (Reuters) - Gold fell toward $930 per ounce on Thursday, losing ground as the dollar strengthened broadly ahead of monthly U.S. jobs data that investors expect to provide more clarity on the pace of economic recovery.

Spot gold stood at $932.05 at 6:41 a.m. EDT, falling from $939.95 late in New York on Wednesday.” Gold slips ahead of data; dollar strengthens

Wall Street Journal (Reported 7.2.09):

“Private-sector jobs data and a report that China wants debate on a new reserve currency dealt a one-two blow to the dollar but revived gold.

The nearby July gold contract rose $13.90, or 1.5%, to $941 an ounce on the Comex division of the New York Mercantile Exchange. The most-active August contract rose $13.90 to $941.30, after losing $13.30 the prior day.” Dollar, Jobs Reports Boost Gold

NS Futures (Reported 7.1.09):

“Those holding long positions should seek long put protection…” Full Report