Market Report

Friday, September 3, 2010
This morning's LME trading was quiet but prices were firm early ahead of this three day Labor Day Holiday weekend...London gold was last indicated at $1,250-$1,251/to and termed "steady"...yesterday, Dec Comex gold rose to $1,253.40, nearly matching its June 28th record ($1,256.60). In New York this morning, traders are looking for Comex copper to open a bit weaker as London prices drift...yesterday, the December contract ended the day higher @ $3.4955/lb.

Monday Report: August 16, 2010
This week's LME is off to firmer start reflecting the usual suspects in the absence of fresh macro news: dollar weakness, bargain hunting, short covering, and the latest LME inventory drawdowns. Overall market sentiment, however, remain cautious and conservative.

Monday Report: August 6, 2010
Following Thursday's across the board selling, this morning's LME is stronger all around and the dollar is weaker as market participants anxiously await today's Nonfarm Payrolls report for fresh direction. London gold was last indicated @ $1,140/to and termed "steady." Traders are looking for Comex copper to open higher...yesterday, the Sept contract closed lower by a little over 5 cents @ $3.3535/lb.

Monday Report: August 2, 2010
Ignoring, for now, a weaker Chinese PMI number for June (a 17-month low but the index remained above 50,) the LME powered higher at the opening, supported by inventory declines, a weaker dollar, firmer global equities, and renewed confidence in increased metal consumption going forward. Over baked?