Metals – Market Recap – Sep 25,2009

Bloomberg (Reported 9.25.09):
“Sept. 25 (Bloomberg) -- Gold, trading below $1,000 an ounce in London today, headed for its biggest weekly decline in more than two months as a stronger dollar curbed the metal’s appeal as an alternative investment.

The U.S. Dollar Index, a six-currency gauge of the currency’s strength, is set for its first weekly gain since August. The measure, little changed today, slipped to the lowest level in a year on Sept. 23. Crude-oil futures, used by some investors as an inflation guide, are poised for the biggest weekly drop since July.” Gold Heads for Worst Weekly Drop Since July on Dollar Rebound


Reuters (Reported 9.25.09):
“LONDON (Reuters) - Gold edged up on Friday as the dollar retreated from its previous day's rally, and as cautious investors eyed the Group of 20 meeting for indications on how global economic recovery could progress.

Spot gold rose to $996.95 an ounce at 5:49 a.m. EDT, compared with $993.75 late in New York on Wednesday. It earlier flirted with a 2-week low of $990.20, a level it touched on Thursday when the dollar rallied” Gold up as dollar weakens, G20 in focus


NS Futures (Reported 9.24.09):

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