Markets To Watch Today
Gold: Gold soared above the $700 mark on the wings of a weaker US Dollar and US response to Iran's "new solutions" letter. The 26-year high remains well below 1980's high of $850 on the cash market, which would translate to $2200 when adjusted for inflation. June Gold is trading at $699.20, down $2.30 this morning.
Crude Oil: Crude jumped nearly one dollar yesterday on the US rejection of the much ballyhooed letter from Iran's President. Tensions remain high, as both sides have maintain a hard stance. June Crude is trading at $70.48, down 21 cents in overnight trading.
Copper: Copper hit record highs supported by strength in Gold and Crude and a weakening US Dollar. Tightening supplies and increased demand were exacerbated by the Grupo Mexico announcement that they will close all mining operations in Zacatecas due to striking workers. June
Copper is trading at 3.6950, up 4.70 cents this morning.
Crude Oil: Crude jumped nearly one dollar yesterday on the US rejection of the much ballyhooed letter from Iran's President. Tensions remain high, as both sides have maintain a hard stance. June Crude is trading at $70.48, down 21 cents in overnight trading.
Copper: Copper hit record highs supported by strength in Gold and Crude and a weakening US Dollar. Tightening supplies and increased demand were exacerbated by the Grupo Mexico announcement that they will close all mining operations in Zacatecas due to striking workers. June
Copper is trading at 3.6950, up 4.70 cents this morning.
posted by XPRESSTRADE, LLC at 5/10/2006 06:55:00 AM
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