Gold miners shine
October 7th, 2009 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 9731.25 | 131.5 | 1.4% |
| NASDAQ | 2103.57 | 35.42 | 1.7% |
| S P 500 | 1054.72 | 14.26 | 1.4% |
| FTSE 100 | 5137.98 | 113.65 | 2.3% |
| Nikkei 225 | 9691.8 | 17.31 | 0.2% |
| ASX 200 | 4,592 | 18.3 | 0.4% |
| COMEX Gold - Dec 09 | 1039.7 | 21.9 | 2.2% |
| COMEX Silver - Sep 09 | 17.295 | 0.76 | 4.6% |
| COMEX Copper - Sep 09 | 278.45 | 5.75 | 2.1% |
| WTI Spot | 70.88 | 0.47 | 0.7% |
| AUD-USD | 0.8901 | 0.0123 | 1.4% |
| Aluminium | 1792.5 | 32 | 1.8% |
| Copper | 6042 | 186 | 3.2% |
| Lead | 2128 | 13 | 0.6% |
| Nickel | 17825 | 675 | 3.9% |
| Tin | 14800 | 200 | 1.4% |
| Zinc | 1889 | 34 | 1.8% |
Overnight Wall Street has gained 131.5 points or 1.37%, buoyed by optimism about the pace of the global economic recovery and signs that US corporate earnings will beat expectations. Third-quarter US corporate earnings season begins later today.
The Reserve Bank's decision yesterday to raise Australia's official cash rate by a quarter of a percentage point has made waves overseas, with world markets responding positively to the move.
On the local front stronger metals, oil and gold prices buoyed by signs of a global recovery are expected to lift shares of Australian resource companies. Look for the XJO to open up between 50-60 points.
Contact your broker today to discuss buy write opportunities for the month of October.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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