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April 1 2010, 08:57

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Heavy Metal – April 1, 2010

FMX | Connect – www.fmxconnect.com - (Reported 4/01/2010)

Heavy Metal provides a synopsis of overnight activity with brief market commentary from industry professionals.  Technically speaking, gold is not a heavy metal, only the most heavily traded.  This report is for serious traders and not for lightweights. 

 

 

 

June gold was up $5.9 to $1120.4 per 100 troy ounces as of 8:40 AM EST. The June dollar index was up marginally to 81.325. Most markets are closed tomorrow and traders will spend today putting together a position they are comfortable with over the long weekend.

 -Contributed by FMX Connect

 

FMX Market Prices

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  For Market Prices Click Here

 

Newswire

Bloomberg (Reported 4/1/2010)

“Gold, trading little changed near a two week high in London, may gain as an improving economy and weakening dollar spur demand for the metal. Platinum and palladium climbed to the highest prices since 2008.

European and Asian equities gained and the dollar traded near a one-week low against the euro as signs the global economic recovery is accelerating sapped demand for the greenback as a refuge. Gold, which typically moves inversely to the U.S. currency, gained 1.5 percent in the three months ended yesterday, a sixth quarterly increase.” Gold May Rise in London on Improving Economy, Weakening Dollar

 

 

Kitco (Reported 4/1/2010)

“Gold prices are trading modestly higher in quieter trading activity Thursday. June Comex gold was last quoted up $2.10 an ounce at $1,116.60. Buying support for gold is coming from a weaker U.S. dollar index and higher crude oil futures prices that hit fresh 11-week highs overnight.

Trading is muted Thursday ahead of the Easter holiday weekend. U.S. and many European markets are closed on Friday for the Good Friday holiday. Also, precious metals traders are awaiting Friday's U.S. jobs data.” A.M. Kitco Metals Roundup: Gold Slightly Higher; Quiet as U.S. Jobs Data Awaited 

 

 

Gold Technical Chart

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 FMX End of Day Reports

Metals End of Day Straddle Runs – March 31, 2010

Gold – Options Report – March 31, 2010

Previous Session Market Report (premium)

OTC Volumes and Volatilities (premium)

 

 

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About FMX: FMX Connect is an information, data, and analytics portal for Commodities. The portal provides an all-in-one package including essential market data, independent third party research, industry news, and commodity trading tools. FMX Connect provides efficient, effective, and thorough data that bridges all aspects of commodities onto one screen. The Result; A user friendly application for hedge fund traders, OTC brokers, individual investors, and industry participants
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