Signs To Watch For Tomorrow Morning
Today on the Comex, June gold futures
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June gold has been resurrected from the $298 region to 11-day highs above the
$305 an ounce resistance line. June gold has been forming a cup and handle
pattern and today settled up $2.40 per ounce at $305.20. Gold has resistance at
around $308 an ounce. About 1:30 PM EST, some of the gold
mining stocks began to sell off. Anglogold
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Newmont Mining
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The PHLX Gold & Silver Index
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the day. Keep your eyes on gold in the morning, this could be a sign of gold
moving lower at the opening.
May silver
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today closing at 449.80 up 4.79. And May copper
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72.70 a pound.
Stocks trimmed losses in the second half of
trading as it became clearer that a plane crash in Italy was an accident and not
the work of terrorists, though major indexes remained depressed as lackluster
earnings reports continued to roll in.
The June Dow Jones Industrial Average futures
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53.00 to 10175.000.
The June Nasdaq 100
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to end at 1387.50.
The June Standard & Poor’s 500
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The June dollar continued its slide, dropping
to 116.650 down .210.
Soybean prices fell today on the Chicago Board of Trade amid continuing
speculation about the fate of a proposed export tax in Argentina.
May soybeans
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SK2 |
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Soybean futures shot higher in the previous session on Argentina’s move to
impose a higher export tax to meet International Monetary Fund borrowing
requirements. The IMF reportedly wants Argentina’s central bank to rely more on
high yielding market instruments such as taxes rather than direct dollar sales
to increase demand for the peso and to improve the nation’s failing economy.
May Wheat
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and about the effect of hot weather on the U.S. winter-wheat crop. Wheat for May
delivery fell 6 3/4 cents to $2.69 a bushel
Corn prices were flat as spring planting got under way in the Midwest with high
temperatures giving way to the advent of cool, rainy conditions.
May corn
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unchanged at $1.70 a bushel.
Once again, Crude-oil prices advanced. June
crude-oil futures
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Mercantile Exchange. June unleaded gasoline
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to 80.70 cents a gallon. June heating oil [HOM2|HOM2] inched up .12 cents
to 65.96 cents a gallon and June natural gas
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NGM2 |
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PowerRating) moved up .01
cent to $3.52. Take a look at
Dave Landry’s perspective on the energies.