Pardon me for butting in, but here is a good source for precious metals closings.
Subject:
Closing Bell Precious Metals Report @ 06/16/97
Date:
Mon, 16 Jun 1997 18:00:15 MDT
From:
cbell@mx.merc.com (Mercury Mail)
To:
bobstaaf@nauticom.net
Closing Bell Precious Metals Report for Monday, Jun 16, 1997
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COMEX and NYMEX precious metals futures ended mixed Monday, with
gold and silver higher on light volume and platinum and palladium
lower.
"A little shortcovering in gold and trade buying near the close,
helped gold to finish up, despite all the bearish sentiment at the
Financial Times gold conference in Prague," Refco New York analyst
Tim Porter said. "But platinum saw more liquidation of long
positions and switching out of the July contract which is nearing
its delivery period."
"Gold prices have been consolidating over the past three months and
may be getting ready to make a significant move," Smith Barney
options analyst Carmen Knoepffler said. "Technically, the
short/intermediate term price trends are down," she said. She
added, "With implied volatility relatively low and gold prices
having the potential to move significantly from here, buying
combinations of put and calls is recommended."
A Federal Reserve study, arguing the U.S. and other governments
should sell off their gold reserves to reap a gain of around $370
billion, was ignored, analysts said. The study by Fed economist
Dale Henderson and American university economists was not seen
reflecting the views of the Fed or Chairman Greenspan.
Meanwhile, French central bank official Jean-Pierre Patat told
delegates to the Financial Times annual gold conference in Prague
Monday that several European central banks, which had recently sold
some gold reserves, no longer feel there is an advantage in selling
more.
In other news, support for the Swiss government's plan to sell gold
over 10 years to fund a Holocaust victims compensation fund was
waning, according to latest polls. The IPSO polling agency found 48
percent of Swiss supported the plan, down from 58 percent when the
plan was announced in March. The plan must pass a public referendum
next year if it is to go ahead.
"Silver continues to be characterized by limited upside momentum
above $4.90, due to weak investor demand and ample supply, and
price stability under $4.70 reflecting good industrial demand from
the U.S., Japan and India," Smith Barney analyst David Rinehimer
said.
NYMEX July platinum ended down, but July platinum enters its first
notice day in two weeks with 11,692 contracts open interest
(584,600 ounces) still outstanding against NYMEX platinum stocks of
only 54,700 ounces representing 1,094 contracts.
NYMEX September palladium settled down after hitting a new contract
high Friday. But the PGM market remained sharply backwardated with
spot palladium around $200, about $20.00 higher than September
futures price. And one-month palladium lease rates remained over
100 pct, with 12 month rates around 60 pct, PGM dealers said.
For the full text story, see
merc.com
---------------------------GOLD------------------------------
COMEX - 100 troy oz _ dollars per troy oz.
CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW
Jun97 341.00 342.30 341.00 342.90 +2.00 497.50 339.00
Aug97 343.10 345.00 343.10 344.80 +1.70 414.50 341.50
Oct97 346.00 347.00 346.00 347.30 +1.70 426.50 344.50
Dec97 348.10 350.10 348.10 349.90 +1.70 456.50 346.30
Est. Sales 18890
--------------------------SILVER------------------------------
COMEX - 5,000 troy oz. _ cents per troy oz.
CONTRACT
CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW
Jul97 468.50 470.00 468.00 468.70 +1.20 631.00 462.50
Sep97 472.50 475.00 472.50 473.40 +1.20 576.00 467.50
Dec97 480.00 482.50 480.00 480.20 +1.20 701.90 475.00
Mar98 487.50 488.50 486.50 487.00 +1.20 573.00 485.00
Est. Sales 23885
----------------------HIGH GRADE COPPER-----------------------
COMEX - 25,000 lbs. cents per lb.
CONTRACT
CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW
Jun97 120.50 122.00 120.50 122.00 +1.75 122.10 82.50
Jul97 120.90 122.30 120.70 122.20 +1.60 122.90 83.40
Aug97 119.00 120.45 119.00 u120.40 +1.40 120.00 84.10
Sep97 118.30 119.70 118.30 u119.70 +1.40 119.65 83.00
Dec97 113.50 114.35 113.20 114.50 +1.50 114.50 83.75
Mar98 109.00 109.30 109.00 u109.50 +1.50 109.00 85.00
Est. Sales 12613
-------------------------PALLADIUM----------------------------
NYMEX - 100 troy oz _ dollars per troy oz
CONTRACT
CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW
Jun97 205.00 213.00 201.00 210.80 _12.60 225.00 118.25
Sep97 187.50 187.50 177.00 180.80 _7.60 192.00 128.75
Dec97 188.00 180.00 172.25 173.80 _8.70 182.50 120.25
Est. Sales 764
--------------------------PLATINUM----------------------------
COMEX - 50 troy oz _ dollars per troy oz.
CONTRACT
CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW
Jul97 425.50 429.00 415.00 423.90 _2.40 473.80 353.50
Oct97 408.00 408.80 396.00 405.90 _.40 429.00 355.50
Jan98 395.00 400.00 390.00 396.90 _1.40 424.00 360.00
Est. Sales 4549
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