May 18, 2009
FGC BOLSA -FGC FINANCIAL MARKETS: Howard Miller's Report: From Global Bullion Trading Group:"Economic Armagedon"#links#links
From: NFA Notification <NFAN@nfa.futures.org>
Date: Mon, May 18, 2009 at 4:49 PM
Subject: New on NFA's Website
To: "firstname.lastname@example.org" <email@example.com>
New on NFA's Website
May 18, 2009
NFA added the following information to its Website in March and April 2009.
You are receiving this message because you are either a Member of National Futures Association (NFA) or you subscribed to the email subscription list on NFA's Website. To cancel or change your subscription at any time, visit the Email Subscriptions page on our Website at http://www.nfa.futures.org/news/subscribe.asp.
Howard Miller latest report about the markets behaviour:
Good afternoon everyone, The metals ended the day divided with Gold and Silver lower but Palladium and Platinum higher....Silver and Gold came under selling pressure at the expense of fresh risk appetite in the equities market....The Dow is presently up 165 points on an increased belief that the economic downturn has passed it's worst....This diverted capital from Silver and Gold; at least for today.....Silver ended the day 22 cent lower at $13.80.....Gold eased $8.00 to $920.00.....Palladium and platinum rose in hopes that a rebound in the economy will mean a rebound in car sales and the implied increase in demand for catalytic converters.....Palladium was up $4.00 to $232.00.......Platinum closed at $1130.00 up $18.00......The Euro recovered early session losses and is presently unchanged against the dollar at $1.3524....Remember the theory that if our economy improves the Fed will need to raise interest rates in order to prevent run away inflation....We believe that ship has already sailed when the government injected $trillions into our floundering economy...It's just a matter of time for the inflation begin surging.......Crude oil jumped on the economic hopes as well as news about a fire at a Sunoco refinery in Pennsylvania ...The refinery produces 175,000 barrels of petroleum products daily....Adding to the surge in Oil was an escalation of militant violence in oil rich Nigeria; the fourth largest OPEC oil producer.....Last on Oil $58.75 up $2.41 per barrel.....As for tomorrow the calendar resumes with a fresh look at housing with the April reading of Housing Starts and New Building Permits....I'll be back in the morning with those estimates....That's it....Have a good afternoon.....Howard