Metals – Market Recap – Oct 1,2009

Bloomberg (Reported 10.1.09):
“If you owned stocks and gold and had to sell one, which would it be?

The Standard & Poor’s 500 Index has gained almost 60 percent since its low on March 9. Gold is near a record price. I know a fair number of people who would keep the gold.
I’ve never been a gold bug myself. They get no respect. They are associated with survivalists, conspiracy theorists and nutcases. They are always looking for the hyperinflation that never comes. Gold bugs pay a premium over the metal price for gold and silver coins on the notion that they will need the currency, come the Apocalypse. ” Gold Tells You U.S. Bubble Hasn’t Popped Yet: Alice Schroeder


Reuters (Reported 10.1.09):
“TOKYO (Reuters) - Gold steadied on Thursday after a weaker dollar helped push the precious metal above $1,000 an ounce the previous day for the first time since September 24.

Bullion rose 8.7 percent in the three months to the end of September, its strongest performance since the first quarter of 2008, also bolstered by technical momentum and concerns about potential inflation.” Gold steadies a day after topping $1,000/oz

NS Futures (Reported 9.30.09):

“A noted reversal underwas as a result of renewed dollar weakness…” Full Report