Metals – Market Recap – Sep 17,2009 UPDATE 1
NYMEX recently transitioned their settlement data to the new CME Clearport system. We are currently working with NYMEX staff to resolve this issue. Sorry for the inconvenience, we will alert you as soon as this issue has been corrected.
Reuters (Reported 9.17.09):
“TOKYO, Sept 17 (Reuters) - Gold prices rose on Thursday and hovered near 18-month highs hit the day before when the dollar slid, with optimism about the global economy prompting investors to buy riskier and alternative assets.
Traders said the correlation between the dollar and gold has deepened as gains in bullion accelerated, with currency dealers also taking their cue from the gold market to bet on the greenback's weakness.” RPT-PRECIOUS-Gold gains near 18-month highs, dollar eyed
Bloomberg (Reported 9.17.09):
“Sept. 17 (Bloomberg) -- As gold jumped above $1,000 last week, Mark Murado decided to trade in his gold bracelet and necklace, earning a sixfold profit.
“With the gold prices so high, and the recession going, why not sell something I never wear?” Murado, 30, of New York, said three days after the metal surged to $1,013.70 an ounce. He sold the jewelry to EZSellGold Inc. in Manhattan for $3,500, up from the $500 purchase price in 1994. ” Gold at $1,000 Spurs Sales of Old Jewelry as Scrap Rises 22%
NS Futures (Reported 9.16.09):
“The trend is set to remain up in the precious metals markets today…” Full Report