Jon Nadler

Senior Metals Market Analyst

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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)

Indian Summer

Gold prices rose as high as the $1067 level, basis spot offer, during the overnight hours, building on yesterday's gains in New York - gains that were not proportional to the slippage in the dollar. Analysts at GoldEssential had noted the de-couple emerging as far back as last Friday's trading sessi... (Nov 03, 2009 9:22AM)

Will Work For Less

Gold prices pushed higher overnight, breaking above the $1050 mark and touching a high near $1058 per ounce. The metal recovered from Friday's indecisiveness and actually showed a bit of a de-couple from the dollar - while still rising in tandem with oil prices - and a return to contrary behavior ag... (Nov 02, 2009 10:14AM)

GDP: Great Day to Play

Friday's market sessions in precious metals started off on a tamer note, following the best gains in gold in three weeks. Explanations follow. The recapture of the $1045 area is noteworthy, although analysts we polled during the wee hours overseas are trying to define the move as everything from a '... (Oct 30, 2009 9:24AM)

A Rough Diamond

The US dollar fell along with the yen overnight, as speculation ahead of the release of US GDP data pushed stock index futures higher and reignited a modicum of risk appetite. Following four days of climbing against the euro, and backing away from the 75 mark on the trade-weighted index, the greenb... (Oct 29, 2009 9:23AM)

White Metals the New Black?

Further falls in precious metals were seen during the overnight hours, albeit the dollar's gains were moderate, at best. While the greenback added 0.20 on the trade-weighted index, rising to 76.38, declines in the Nikkei, emerging market equities, and a seventh session drop in the MSCI World Index a... (Oct 28, 2009 9:18AM)

Dollar Spring Back

Not even reports of China oil demand rising 12.5 percent in September from a year earlier, the fastest rate since June 2006, could keep oil moving higher in the face of a rebounding dollar. Commodities across the board took a step back as the dollar finally stepped up. (Oct 27, 2009 9:27AM)

The INGredible Takes Place

We can dwell on yesterday's happenings after we take a quick scan of the markets as they stand on this crisp Tuesday morning. Gold, still nervous, and still trading at under the $1040 level (namely, at $1038.00) - trying really to get up off the floor and dust itself off. Silver, down another 10 cen... (Oct 27, 2009 9:19AM)

Fun(d) and Games

Dollar weakness was manifest once gain as the new trading week got underway, with the US currency recording a fresh 14-month low against the euro overnight. The greenback also slipped on the trade-weighted index, losing 0.13 to 75.31 at last check. This morning's macroeconomic news reveals a mixed b... (Oct 26, 2009 8:58AM)

Mystic Pizza

Gold prices eased to under $1050 per ounce ahead of New York's midweek session opening, driven mainly by further light selling from speculators. The US dollar recorded only marginal gains overnight and was last seen hovering near the 75.50 mark on the trade-weighted index, while crude oil lost a som... (Oct 21, 2009 11:18AM)