Gold Extends Multi-Year Highs
Among the metals, Gold continued to
soar, with the Fed 06 contract closing the week at $530.20, a new
contract high. Silver also moved higher, while Copper was flat.
Energy prices pulled back as traders turned their focus from
the cold weather to stockpiles. With supplies currently seen as sufficient
traders sent the price of Crude Oil, Unleaded Gasoline, Heating Oil and Natural
In today’s economic news, the University of Michigan Consumer
Sentiment Index for December was 88.7, above expectations. The Commerce
Department reported a rise in Wholesale Sales of 1.2% (report).
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The larger than expected rise in Consumer
Sentiment caused Treasuries to selloff and sent the US Dollar Index slightly
lower. The US Dollar closed the week posting its largest fall versus the Euro in
over a month.
University of Michigan Consumer Sentiment Index
At 88.7 For Dec.
Wholesale Inventories Up 0.2% In Oct., Sales Up
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