Hello everyone, a quiet and routine start to the week was seen in gold and silver with no economic data released to provide the dollar and the metals with direction.

Macquarie Metals Report at close of business on Monday, 12th July 2004.

Precious Metals
Base Metals
Equity/Commodity Indexes
Interest Rates
Currencies
Gold and Silver Forwards
Gold USD ATM Option Vols
Commentary
Latest Economic Data
Disclaimer

Precious Metals

  Open High Low Close Change
Gold Far East 407.50/8.00 407.70/8.20 407.05/55 407.65/8.15
Gold London 407.80/8.30 408.50/9.00 406.25/75 406.25/75
Gold New York 406.35/85 407.90/8.40 405.50/6.00 407.50/8.00 Unch
AUD/Gold (24 Hr) 562.90/63.90 562.90/63.90 557.50/58.50 559.50/60.50 -3.40
Silver (24 Hr) 6.4750/4900 6.5450/5600 6.4350/4500 6.5100/5250 +0.0350
Platinum (24 Hr) 816.00/21.00 826.00/31.00 816.0/21.00 818.00/23.00 +2.00
Palladium (24 Hr) 224.50/29.50 225.00/30.00 222.00/27.00 222.00/27.00 -2.50
Gold & Silver Fixes AM: 408.55                           PM: 406.35 SIL: 6.5300
COMEX Open Interest XAU: 236,465       +2,486 XAG: 86,990       +828
Gold & Silver EFP's Gold (Aug): +0.40/+0.50 Sil (Sep): +1.75/+2.25

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Base Metals (24 Hours)

  Open High Low Close Change
LME Copper 3 Mth 2,795 2,823 2,778 2,783 -12.00
LME Aluminium 3 Mth 1,752 1,761 1,742 1,739 -13.00
LME Zinc 3 Mth 1,018 1,034 1,018 1,019 +1.00
LME Nickel 3 Mth 15,450 15,600 14,900 14,900 -550.00

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Equity/Commodity Indexes

  Close Net Change
HUI Index 199.36 -2.11
CRB Index 271.85 -0.84
NYMEX Oil (Aug) 39.50 -0.46
S&P 500 Futures (Sep) 1,113.40 +0.60
Dow Jones Index 10,238.22 +25.00
NASDAQ 1,936.92 -9.41

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Interest Rates

  Close Net Change
US Euro (Sep) 98.080 +0.005
US 30 Yr Bond (Sep) 108*06 +0*07
SYCOM 3 Yr Bond (Sep) 94.61 +0.01
SYCOM 10 Yr Bond (Sep) 94.335 -0.015

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Currencies

  Open High Low Close Change
AUD/USD (5pm NY) 0.7229/34 0.7284/89 0.7222/27 0.7271/76 +0.0042
EUR/USD (5pm NY) 1.2409/14 1.2436/41 1.2379/84 1.2410/15 +0.0001
USD/JPY (5pm NY) 108.12/17 108.42/47 107.59/64 108.21/26 +0.09

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Gold & Silver Forwards

  Gold Forwards (USD) Silver Forwards (USD)
1 Month +1.45/+1.55 +1.40/+1.80
2 Month +1.55/+1.65 +1.45/+1.85
3 Month +1.60/+1.70 +1.50/+1.90
6 Month +1.80/+1.90 +1.35/+1.75
12 Month +2.10/+2.20 +1.20//+1.60

Gold USD ATM Option Vols

  Gold USD ATM Option Vols
1 Month 17.75/19.25
2 Month 17.50/19.00
3 Month 17.00/18.50
6 Month 16.75/18.25
12 Month 16.25/17.75

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Comment:

  • A featureless day for gold  as the metal spent its time confined to a very tight range. The market edged up with the Euro into early Europe to close near the session’s highs. The close above $405.00 last Friday has market consensus looking for gold to test $410.00 and possibly $415.00 now with support expected at $405.00, a break of which would negate the immediate upside potential. Silver tracked gold, testing resistance levels on the close. Of note, the 100-day moving average in silver comes in at 6.51.
  • With no economic data released today, gold drifted and consolidated within a narrow range in European and U.S. trade, fund and dealer buying featured on dips with scale up selling capping the market again at $408.50 for the third day running.

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