Friday, September 08, 2006

Precious Metals Fall Due to Strength of Dollar, Falling Oil Price

From today's AP

NEW YORK (AP) -- Prices for precious metals fell Friday due to a strengthening U.S. dollar and lower crude-oil prices.
"It was more commodity fund liquidation after they all ran into the market on Tuesday," said Mike Zarembski, futures analyst with Xpresstrade. "They all started bailing yesterday and it continued today.

"The sharply higher U.S. dollar, especially against the euro currency, has really changed the tone to the metals markets."

The euro sagged as far as $1.2653, well down from $1.2729 late Thursday and its weakest level against the U.S. currency since July 26.

December gold fell $7.60 to $617.30 a troy ounce on the New York Mercantile Exchange.

December silver settled down 40 cents to $12.295 an ounce. October platinum lost $27.40 to $1,229.50 an ounce and December palladium declined $21.90 to $333.60 an ounce.

Technically oriented selling sent copper futures lower. The most-active December copper contract lost 8 cents to settle at $3.5680 per pound.

The October crude oil contract settled $1.07 lower at $66.25 a barrel after hitting an intraday low of $66.00, the lowest level for a front month contract since April 5.

The contract has lost more than $11 in just the last four weeks.

The October heating oil contract settled down 4.44 cents to $1.8432 a gallon. The October gasoline contract settled down 3.19 cents at $1.6098 a gallon.

October natural gas settled down 4.3 cents at $5.675 per million British thermal units.

ARE YOU GETTING YET? Go to the home builder's stocks and all the twenty something year old kids are writing their headlines on falling earnings. They don't understand. They just don't understand how OIL IS EVERYTHING. OIL IS FALLING. THERE IS NO INFLATION FOR THE FEDS TO FIGHT. MORTGAGE RATES WILL CONTINUE WITH THEIR SLIDE. MORTGAGE RATES HAVE FALLEN FOR 7 STRAIGHT WEEKS.

Can you believe some of the clowns are writing about how rising mortgage rats are hurting people?

THEY JUST DON'T GET IT. HOW CAN TOLL BROTHERS RALLY TODAY?

Do you GET IT?

Comments:
True, true!
 
DumbFuck vomited forth:

"THERE IS NO INFLATION FOR THE FEDS TO FIGHT"

Hey DipShit, have you been to the store lately? I have, and I have seen many items like fruit and dairy products DOUBLE in price in the last year. Unlike you, I do my own research - in the form of comparing store receipts, and know for a fact that the FEDs are lying thru their teeth on the CPI.
 
Wow!!!!! Gas is now $2.09 here in Baltimore. I think i will go buy me an apple, or a gallon of milk with all the money I saved. Might even buy me a pint of ice cream!!!!


TAKE NOTES YOU ARE LEARNING FROM THE MASTER
 
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