|  Good Morning, The US dollar recovered from the eight-month lows it touched on Monday, rising another 0.22 this morning to reach 77.73 on the trade-weighted index. Such a bounce helped dent crude oil values somewhat more as Tuesday trading got underway (down 86 cents to $81.35 per barrel) and it took some of the energy out of advances in copper prices (down 1% this morning). Fed meeting minutes will be subjected to minute parsing later today, in an forward-looking-backward-glance attempt to guess what the US central bank might have up its sleeve, come November. Although similar patterns were becoming manifest during the late afternoon hours on Monday, they did little to stanch a recovery from the morning lows seen the in gold and silver markets. The yellow metal finished 60 cents from the top end of its Monday range, (at $1,355.50) after having paid a few milliseconds' worth of a 'corrective' visit to the sub $1,340.00 area. However, bullion retraced steps to the $1339.90 marker in early Tuesday action, with a $13.00 drop on the back of the aforementioned stronger greenback. Market opening levels had gold quoted near $1,345, silver still above $23.15 and platinum and palladium off by $3 each art $1,679.00 and $583.00 per ounce. (...)
Read the rest of Gold, Silver, Metal Prices Commentary – October 12, 2010 (1,403 words)
© Jon Nadler for Coin News, 2010. | Permalink | Coin Collecting News | Post tags: bullion, gold, Jon Nadler, platinum, silver
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