Silver Slips
Silver is tanking after triggering stops below the highs of a two-and-a-half month base at the 533 level. Traders are responding to a fall in platinum prices and concern that the prospect of higher interest rates will increase the cost of holding physical commodities.
Dollar index futures, from the Implosion-5 List,
are trading at a six-week low, falling in response to lower US equity prices and reports from Europe showing a reviving economy (German unemployment hit a three-and-a half low in December). The British pound and Swiss franc, whose recent rallies have landed them on the Momentum-5 List, are moving higher against the dollar.
The American Petroleum Institute report on inventories showed stockpiles did not fall as much as forecasted last week, sending energy contracts down.
Natural gas, from the Implosion-5 List, is trading at new contract lows.
Orange juice is trading on its highs of the day, rebounding from Tuesday’s four-month low. The March contract is on the Multiple Days Low Volatility List, indicating it could make a larger-than-normal move.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures |
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Currencies |
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Energies |
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Metals |
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Grains |
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Meats |
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Softs and Fibers |
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