Jon Nadler

Senior Metals Market Analyst

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Curb Your Capital(ism)

A more robust gain in the US dollar overnight (rising 0.56 on the index, to 75.82) drew additional sales from gold holders and dented values in crude oil as well as other precious and base metals. The US currency gained ground following cautionary words on the state of economic recovery by ECB Presi... (Today 10:30 AM EDT)

Truth in Numbers

A further gain in the US dollar overnight prompted losses in the commodities sector as some of the speculators who had been crowding the relatively small driver's seat opted to bail and take a position a bit further back on the runaway dollar-carry train. Gold, other precious metals, and oil, fell, ... (Nov 19, 2009 10:59AM)

Mr. John Q., Come On Down!

Today's market news and analysis roundup begins with the -by now- 'normal' observance of yet another price record having been achieved by gold. During the hours preceding the New York session's opening, spot gold touched the $1150 level (plus 30 cents) as the US dollar broke under the 75 mark on the... (Nov 18, 2009 11:53AM)

Das Rheingold

Following Monday's massive, manic metals melt-up, the complex simmered down just a bit during the overnight hours, as the US dollar once again managed to come back from the darkness under the 75 mark on the trade-weighted index - in small part because the same speech by Ben Bernanke that intimated t... (Nov 17, 2009 10:47AM)

Carry On

With but a week to go before its December options expire, gold bullion tracked a further accelerating, and nearly vertical ballistic trace overnight, as a slew of buy stops hit the market just moments after opening for electronic trade. Some 2,000 contracts went through the order pipeline in the ini... (Nov 17, 2009 8:51AM)

They Get a Kick From Champagne

Friday the 13th did not prove unlucky, at least as far as the "Old World" is concerned. The NY Times reported this morning that: "The 16-country euro zone has officially joined the United States and Japan out of recession, after figures showed its economy grew by 0.4 percent in the third quarter fro... (Nov 13, 2009 3:58PM)

Things We Do Not Mention In Church

Gold prices fell a tad for the first time in five, as the US dollar regained some ground against its rivals overnight. The greenback recovered against the euro and in New York early on Thursday, as euro zone economic data of the anemic variety gave rise to fresh apprehensions related to the on-going... (Nov 12, 2009 3:43PM)

The Option is Yours

A return to under the 75 mark on the index by the US dollar overnight sparked fresh waves of buying in commodities and other risky assets as speculators continued to bet that current conditions give them an open window of opportunity. An ample supply of Federal Reserve officials' words was made avai... (Nov 11, 2009 10:12AM)

Of Quads and a Moscow Hold'em

Overnight trading markets gave early indications that the first day of the new week might present a fresh record for gold prices (while also making life interesting in the oil trading pits), and that the US dollar would likely return to the pivot points it first visited in October (75 on the index a... (Nov 09, 2009 9:28AM)

Class Is Now In Session

Speculation early this morning was that U.S. employers likely have cut only 150,000 jobs in the month of October, a figure which would be the lowest in more than a year. The worst labor-market slump since the 1930s is now seen as possibly bottoming out, and the possibility of future consumer spendin... (Nov 06, 2009 1:03PM)

Wednesday Night Fight

Yesterday's non-surprise by the Fed was good enough for gold prices to come to within $1 of the $1100 spot offer mark during the early afternoon. (Nov 05, 2009 7:18AM)

Corrida!

If there were any shorts left alive after yesterday's massive short-covering an options-related orgy, well, it was hard to find them in New York. Spurred by the symbolism of the Indian central bank purchase of 200 tonnes from the IMF (a topic we covered in some detail in yesterday's comment) but les... (Nov 04, 2009 9:59AM)