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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (4839)	10/11/2001 12:02:45 AM
From: John Pitera	Read Replies (2) \| Respond to of 33421

PPI annual growth rate projected to be down to 1.4% from the highest level of the decade (4.8%) back in Jan. The US Dollar has been strengthening as GOLD has been backing off quite a bit. The 286 level in gold is a 50% retracement from the pre-attack levels of 273 to the move up to almost $300, basis Dec, after 9-11. hence, the price magnet at the 285-86 leve. as an aside, Cotton has been in one of the most magnificent downtrends I've ever seen. ------------------------ 14:02 ET 30-year: +6/32..5.361%....GNMAs: -5/32....$-¥: 120.38 Gold prices have fallen sharply today with cash down $1.05 and the December contract down $3 to $286.70 -- the lowest price since Sep 11 surge. A stronger drop in silver prices is offset by gains in crude oil ($0.27), wheat and sugar prices to leave the CRB down a slight 0.47 to 186.25 on the day but a very strong 20% since October. The recent price contraction is consistent with the weak economy and deflation (annual declines) in the pipeline measures of PPI. Friday's release of Sep PPI is expected to show a 1.4% annual growth rate from a decade high of 4.8% in January as lower oil prices add to the downtrend in other commodity prices.