Metals – Market Recap – Sep 24,2009

Bloomberg (Reported 9.24.09):
“Sept. 24 (Bloomberg) -- Gold advanced on speculation a recovery in global economies will fuel inflation, prompting investors to buy the metal as a hedge against higher prices.

Bullion investments in exchange-listed vehicles surged to records this year. Pictet & Cie., Switzerland’s biggest closely held private bank, will start a fund backed by physical gold next month to help investors protect their wealth against inflation and currency movements, it said yesterday.” Gold Advances as Prospect of Inflation Spurs Investor Demand


Reuters (Reported 9.24.09):
“TOKYO (Reuters) - Spot gold rallied to trade around $1,010 on Thursday as the precious metal continued to look to the dollar for direction, though a sense of caution prevailed due to the threat of heavy liquidation of futures positions.

Spot gold -- which fell in the previous session after the dollar turned higher -- is currently down about 1 percent from the 18-month high of $1,023.85 hit last Thursday.” Gold bounces back to around $1,010


NS Futures (Reported 9.24.09):

“Without a weak dollar or higher equities the bulls lack incentive…” Full Report