Metals – Market Recap – Aug 6,2009

Bloomberg (Reported 8.6.09):

“Aug. 6 (Bloomberg) -- Gold advanced as a falling dollar and weak U.S. economic data bolstered the precious metal’s appeal as a haven investment.

Bullion climbed toward a two month high after service industries in the U.S. shrank more than forecast in July, and companies cut another 371,000 jobs, indicating rising unemployment will erode spending in the world’s largest economy. The dollar was little changed at $1.4416 per euro after touching $1.4447 yesterday, the weakest level since Dec. 18.” Gold Gains as Weak Dollar, U.S. Data Bolster Haven Appeal

Reuters (Reported 8.6.09):

“TOKYO, Aug 6 (Reuters) - Gold steadied on Thursday, drawing support from the dollar's weakness against the euro and investor risk appetite that has helped boost assets across markets, but prices were capped as players grew wary of high price levels.  Gold hit a two-month high earlier in the week on the dollar's drop and a broad rally in commodities and equities, as hopes for an economic recovery encouraged funds to pour money into a wide range of assets.” PRECIOUS-Gold steady as dlr stays weak vs euro, ETF flat

Gold Options Activity – Highlights – As Of Aug 5,2009

Silver Options Activity – Highlights – As Of Aug 5,2009