Gold, Silver, Metal Prices: Commentary (10/12/2009)

Dollar: The Reports of My Demise…

Good Day,

Although some gains were seen in the dollar versus the euro and the pound earlier this morning, a hefty $1.78 addition to crude oil values helped keep gold’s flywheel-like momentum going for yet another day.

The yellow metal traded in a $10 band of from $1048 to $1058 and managed to recover most of Friday’s $6 loss at several points during the overnight and early morning session in NY. Markets are noticeably thinner as some have taken the Columbus Day holiday (and Canadian Thanksgiving) off. As well, with the world of (base) metals congregating in London, there are numerous bodies absent from various desks around the world.

At that very event, we have heard of calls to craft global arrangements that would regulate the wild and woolly niche of commodities. Lest of course, one enjoys the type of government-flavoured knuckle-rapping that follows spectacles such as last year’s oil ‘rally.’ Bloomberg reports that:

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