Metals – Market Recap – Sep 28,2009

Bloomberg (Reported 9.28.09):
“Sept. 28 (Bloomberg) -- Gold, little changed in London today, may decline as a stronger dollar curbs demand for the precious metal as an alternative investment.

The U.S. Dollar Index, a six-currency gauge of the currency’s strength, climbed as much as 0.6 percent before a German report that economists forecast to show consumer prices dropped for the first time in four months. Gold tends to weaken when the dollar strengthens.” Gold May Decline a Fourth Day as Dollar Rebound Curbs Demand

Reuters (Reported 9.28.09):
“TOKYO, Sept 28 (Reuters) - Gold fell below $990 an ounce on Monday as a rise in the dollar versus the euro weighed on the precious metal, whose inability to stay above $1,000 has disappointed some investors.
Gold's inverse relationship with the dollar over the past few weeks has become stronger. Gold is often considered an alternative asset to the greenback, while a higher dollar makes commodities expensive for holders of other currencies.” RPT-PRECIOUS-Gold dips below $990, hurt by dollar's rise vs euro

NS Futures (Reported 9.25.09):

“Yesterday’s weakness leaves the bias in metals weak early today…” Full Report