Today’s AM fix was USD 1,577.50, EUR 1,213.28 and GBP 1,058.37 per ounce.
Friday’s AM fix was USD 1,577.00, EUR 1,204.18 and GBP 1,049.10per ounce.
Silver is trading at $28.91/oz, €22.32/oz and £19.50/oz. Platinum is trading at $1,600.75/oz, palladium at $772.00/oz and rhodium at $1,200/oz.
Gold was up $0.40 or 0.03% and closed Friday at $1,578.10/oz. Silver hit a high of $29.25 and finished +0.31%. For the week gold was up 0.16% and silver 1.33%.
Cross Currency Table – (Bloomberg)
Hedge-fund managers and other large speculators decreased their net-long position in New York gold and silver futures last week (week ended March 5), according to U.S. Commodity Futures Trading Commission (CFTC) data.
Speculative long gold positions, or bets prices will rise, outnumbered short positions by 107,587 contracts on the Comex division of the New York Mercantile Exchange, the CFTC said. Net-long positions fell by 9,012 contracts, or 8%, from a week earlier.
Gold futures rose last week, gaining 0.3%to $1,576.90 a troy ounce at Friday’s close.
Miners, producers, jewelers and other commercial users were net-short 133,798 contracts, down 3,822 contracts, or 3%, from the previous week.
Speculative long silver positions, or bets prices will rise, outnumbered short positions by 18,603 contracts on the Comex division of the New York Mercantile Exchange, the CFTC reported. Net-long positions fell by 3,134 contracts, or 14%, from a week earlier.
Silver futures rose last week, gaining 1.6% to $28.95 a troy ounce at Friday’s close.
Miners, producers, jewelers and other commercial users were net-short 29,183 contracts, down 1,703 contracts, or 6%, from the previous week.
The poor sentiment in the gold and silver market and the continuing decline in net long positions on the COMEX is bullish from a contrarian perspective.
Webinar: Everything you need to know about Silver in 60 minutes.
Date: 13th March, 2013, 1900 – 2000 GMT
Speakers: David Morgan publisher of the Morgan Report and GoldCore Research Director Mark O’Byrne
Do you want answers on why silver should be part of your investment portfolio and why silver is a form of saving and financial insurance? Do you want to know the safest way to own silver? Do you want the opportunity to put your own questions to two leading world authorities on silver? We’ll help you in this complimentary webinar, "Everything you need to know about Silver in 60 minutes."
To register click here!
NEWS
Gold inches down as US jobs data weighs – Reuters
Gold Advances for First Time in Three Days Amid China Concern – Bloomberg
Faber, Stock Market Rally ‘Will End Badly’ Buy Gold – Live Trading News
Gold Rises in Asia; Range Bound as Investors Await Cues – Wall Street Journal
COMMENTARY
Video: Faber Warns: ‘Market Has Peaked Out’ – Gold Is 25% Of Portfolio – CNBC
Video: Investors Say Silver Outshines Gold – Bloomberg
Palladium Bucks Precious Metal Trend – Hits 18-Month High – Zero Hedge
Gold And Silver Increased Odds For Rally – The Clock Is Ticking – Market Oracle
For breaking news and commentary on financial markets and gold, follow us on Twitter.
