Of Quads and a Moscow Hold’em

Good Day,

Overnight trading markets gave early indications that the first day of the new week might present a fresh record for gold prices (while also making life interesting in the oil trading pits), and that the US dollar would likely return to the pivot points it first visited in October (75 on the index and $1.50 against the euro). Following that, the New York spot markets opened with additional gains in precious as well as base metals, and oil. Since the day will be filled with travel once again, we can offer up only the starting gate numbers and a second half consisting of a roundup of background stories that were ‘canned’ prior to this morning. Today’ late developments will have to be covered in retrospect.

Gold opened with a $12.20 per ounce rise, and was quoted at $1110.00 this morning. Silver added 33 cents to start Monday’s session at $17.72 an ounce. Platinum rose $12 to $1355 and palladium climbed $2 to $331 per ounce. Rhodium remained unchanged at $1850 the troy ounce. Also at last check, the US dollar was seen at 75.05 on the index and oil was still up by $1.13 at $78.56 per barrel. Hurricane Ida was certain to be among the factors cited for black gold’s rise this morning, but the core reasons remain the ones you will read about below.

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Read the rest of Gold, Silver, Metal Prices: Commentary – 11/9/2009 (2,075 words)