Precious metal markets probed lower overnight but good Asian related buying in gold, appears to have stabilized for the time being. New York open shows gold firmer up $5.10 @ 1563.40/USD/OZ, while Silver is down 0.06 cents @ 27.60USD/OZ. Lot of attention recently has been focused on the Bitcoin, a virtual currency, not tied to any government, which has been on a steady stream of continual appreciation. Yesterday however, after trading as high as $266 (all-time highs), it proceeded to crash to an intraday low of $105. Though the ‘currency’ did make back much of its losses, question remains now as to whether this is the end of the ‘bubble’, or if it’s merely a stumbling block along the way. We had jobless claims at 08:30 , followed by retail sales and inflation data tomorrow. Bonds are slightly weaker and Dow futures are pointing to a higher opening … again. Oil Sheds $1.38 in late trade to USD$93.26/Barrel.

 

Note-movements based on previous days closing market prices.