Metals – Market Recap – Aug 7,2009

Bloomberg (Reported 8.7.09):

“Aug. 7 (Bloomberg) -- Gold fell in London on speculation the U.S. jobs report today will show higher unemployment, potentially buoying the dollar and eroding demand for the precious metal as an alternative investment.

The U.S. jobless rate probably rose to 9.6 percent in July from 9.5 percent the prior month, according to the median of estimates in a Bloomberg News survey. After the June jobs report that showed more job cuts than economists forecast, the dollar gained and gold declined.” Gold Declines in London as U.S. Jobs May Help to Revive Dollar

Reuters (Reported 8.7.09):

“TOKYO, Aug 7 (Reuters) - Gold edged down to $960 an ounce on Friday on caution that an expected improvement in a key U.S. jobs report later in the day would hurt the precious metal's allure as a safe haven at a time of economic turbulence.  Economists in a Reuters survey forecast the U.S. Labor Department report, due at 1230 GMT, will show 320,000 workers lost their jobs in July, the least for any month since September and compared with a loss of 467,000 jobs in June.” PRECIOUS-Gold inches down as U.S. jobs data eyed, ETF flat


Gold Options Activity – Highlights – As Of Aug 6,2009

Silver Options Activity – Highlights – As Of Aug 6, 2009