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The daily commentaries provide a recap of each commodity's traded price activity, an analysis of the factors that influenced price activity, a recap of any reports released that day, and a look ahead at the next day's schedule. CME Group provides market commentaries for corn, wheat, soybeans, gold and silver.
The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
The gold market managed another impressive bounce in the face of a more moderate decline in the Dollar than was seen in the prior trading session. However, given that the Dollar fell in the face of a much stronger than expected US Housing starts and permits release it is likely that the bear camp in the gold market was extremely disappointed with the turn of events this morning. In fact, with sharply higher energy prices, initially higher equity prices and a sagging US Dollar, the gold market was almost able to garner the perfect storm of outside market forces that seemed to provide the gold market with significant upward momentum in the 2006 through 2007 time frame.
