Tuesday, July 10, 2007

XAU, XAG & Forex Commentary

Not much change in the USD price of gold (xauusd) today. Gold futures traded and closed slightly higher but priced in Euro and Yen gold is actually down today.

The Euro made a new all time high vs. the USD, EURUSD ~= 1.3740. Note that pre issued Euro high was EURUSD 1.4750, Long term (30 years) retro perspective EUR/USD chart.

Marginal carry traders capitulated as the Yen rallied strongly. Be careful with that one! , Seems like the carry trade become way over crowded as every one and his dog doing the thing.

Silver
up, the high of the day was 13.085 for SIU7 (COMEX September contract)

Silver SIU7 Intraday Chart (2 hours sticks)


Silver COMEX chart

4 comments:

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