Thread: Gold

Daily Market Commentary for September 14, 2010

Gold

With the disappointing economic reports released today, Gold prices soared to record highs. (Read more at Millennium-Traders.Com)

Economic data released today:

Retail Sales (MoM):
July Retail & Food Sales Revised to +0.3% from +0.4%; U.S. August Retail & Food Sales Ex-Autos rose 0.6%; U.S. August Retail & Food Sales rose 0.4%; Compared to Consensus of an increase by 0.3%.

Redbook:
U.S. Retail Sales rose 2.9% Week Ended September 11 versus Year Ago; U.S. Retail Sales First 2 Weeks September rose 2.9% versus September Year-Ago; U.S. Retail Sales First 2 Weeks September fell 0.1% versus August.

Business Inventories (MoM):
U.S. July Business Sales rose 0.7%; Gain is Biggest in Four Months; Increase in July Business Inventories is Biggest in Two Years; U.S. July Business Inventories rose 1.0%; was Expected to rise 0.8%.

IBD/TIPP Economic Optimism:
U.S. September IBD/TIPP 6-Month Economic Outlook 44.2; U.S. September IBD/TIPP Economic Optimism Index 45.3 versus 43.6 in August.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) shed 6.82 points, EOD 10,537.31
NYSE (New York Stock Exchange) gain 5.93, EOD 7,162.11
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 4.97 points, EOD 2,290.68
S&P 500 (SPX) shed 0.9 points, EOD 1,121.00
BEL 20 (BEL20) shed 1.96 points, EOD 2,608.85
CAC 40 (CAC40) gain 7.25 points, EOD 3,774.40
FTSE100 (UKX100) gain 1.88 points, EOD 5,567.41
NIKKEI 225 (NIK/O) shed 22.51 points, EOD 9,299.31

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,411, declined stock prices 1,633, unchanged stock prices 101, stock prices hitting new highs 190 and stock prices hitting new lows 6. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: CRM shed 0.90, HOD 118.90, LOD 116.51, EOD 117.69; CME shed 1.29, HOD 270.88, LOD 268.28, EOD 269.74; EOG shed 0.02, HOD 93.14, LOD 91.31, EOD 92.27; BLK gain 9.16, HOD 160.50, LOD 149.95, EOD 159.85; BBY gain 2.12, HOD 37.49, LOD 36.50, EOD 36.77; MOS shed 0.86, HOD 59.63, LOD 58.29, EOD 58.80; KR gain 0.26, HOD 21.93, LOD 21.28, EOD 21.30; ESI shed 0.93, HOD 58.73, LOD 55.55, EOD 56.72; MON gain 0.20, HOD 58.78, LOD 57.16, EOD 58.05; MA gain 6.71, HOD 201.25, LOD 193.24, EOD 199.74; V gain 1.66, HOD 67.95, LOD 65.55, EOD 67.13; NEM gain 2.41, HOD 64.03, LOD 61.39, EOD 62.83.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,125, declined stock prices 1,507, unchanged stock prices 144, stock prices hitting new highs 83 and stock prices hitting new lows 27. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: PCLN gain 4.47, HOD 336.58, LOD 327.23, EOD 334.77; ISRG gain 6.55, HOD 287.65, LOD 276.10, EOD 285.91; POWI shed 0.79, HOD 29.26, LOD 28.51, EOD 28.57; CBRL gain 1.35, HOD 51.53, LOD 49.16, EOD 49.94; ARNA shed 2.72, HOD 4.80, LOD 3.96, EOD 4.13; AAPL gain 1.20, HOD 269.17, LOD 265.61, EOD 268.06.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 235, declined stock prices 250, unchanged stock prices 34, stock prices hitting new highs 22 and stock prices hitting new lows 4.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1117.25; Change 1.00
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,827.00; Change 10.25
E-mini DOW $5 (YM) Mar 10: EOD 10,473; Change 1
Nikkei 225 (Yen) Mar 10: EOD 9,250; Change -45

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7681 to U.S. Dollars 1.3000
Japanese Yen 83.0950 to U.S. Dollars 0.0112
British Pound 0.6422 to U.S. Dollars 1.5600
Canadian Dollar 1.0251 to U.S. Dollars 0.9752
Swiss Franc 0.9949 to U.S. Dollars 1.0000

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (October 10) shed $0.39, EOD $76.80 per barrel ($US per barrel)
Heating Oil (October 10) gain $0.00, EOD $2.13 a gallon ($US per gallon)
Natural Gas (October 10) gain $0.02, EOD $3.97 per million BTU ($US per mmbtu.)
Unleaded Gas (October 10) shed $0.01 EOD $1.97 gallon ($US per gallon)

Metals Markets - Comex:
Gold (September 10) gain $24.60, EOD $1,269.70 ($US per Troy ounce)
Silver (September 10) gain $0.29, EOD $20.40 ($US per Troy ounce)
Platinum (September 10) gain $44.50, EOD $1,594.40 ($US per Troy ounce)
Copper (September 10) shed $0.01, EOD $3.46 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 10) gain $2.40, EOD $78.70
Pork Bellies (February 10) unchanged, EOD $105.80
Live Cattle (October 10) gain $0.75, EOD $98.20
Feeder Cattle (September 10) shed $0.20, EOD $112.15

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (September 10) gain $8.75, EOD $478.00
Soybeans (September 10) shed $0.25, EOD $1,025.00

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Because you made a purchase of retail gold last year does not necessarily mean that you could sell it today for more. Most gold is 14K which means that it is 14/24 gold. There is always workmanship in the particular piece. If you are to trade the gold market, ingots vary less in the workmanship as they are .999 fine. The melt and handling generally takes up the increase.