Bid Ask High Low

Gold 1,290.75 1,291.25 1,295.25 1,290.50

Silver 20.3800 20.4100 20.4600 20.2500
Platinum 1,464.00 1,466.00 1,470.50 1,460.75
Palladium 863.00 864.00 870.00 862.25
Rhodium 1,285.00
Bid Ask High Low
Aluminium 1,998 2,002 2,004 1,972
Copper 7,090 7,100 7,099 7,040
Nickel 18,462 18,562 18,513 18,335
Lead 2,244 2,254 2,257 2,213
Zinc 2,350 2,360 2,360 2,328
Tin 22,358 22,458 22,499 22,300
Metal Fix Date Fix Mth Avg Qtr Avg Yr Avg
Gold 1-Aug-14 1,291.25 1,291.25 1,310.15 1,293.90
Silver 4-Aug-14 20.3500 20.3450 20.8782 20.1926
Platinum 1-Aug-14 1,462.00 1,462.00 1,491.50 1,446.25
Palladium 1-Aug-14 871.00 871.00 871.75 794.75
NSN M9UIIL6JTSEI
http://bit.ly/keZPJN
Metal 10d MA 50d MA 100d MA 1d Volume 10d Avg 1d/10 Avg
Place appropriate weekly chart here Gold 1,298.05 1,294.40 1,297.55 144,988 75,328 192%
Silver 20.59 20.32 20.01 46,452 36,849 126%
Platinum 1,475.25 1,473.00 1,456.00 11,907 8,586 139%
Palladium 873.75 852.75 825.75 5,616 3,977 141%
Gold Silver Platinum Palladium
1 Month 12.50 17.75 12.25 16.75
2 Month 12.75 19.00 12.75 17.00 Place Appropriate daily chart here
3 Month 13.25 19.50 13.25 17.25
6 Month 14.00 20.25 14.25 17.75
12 Month 14.75 21.25 15.25 18.25
2 Year 15.50 21.75
3 Year 15.75 22.25 Metal Level
4 Year 16.00 Gold 0.90
5 Year 16.00 Silver 0.0225
Platinum 3.00
Palladium 0.50
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4 August 2014
Chart of the Day
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EFP Indications
GPM.NY@tdsecurities.com
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Precious Metal PM Fix - US$/Oz
Friday was a welcome retrace for the yellow metal which caught a bid off the US
employment data repeatedly confirmed as lacking throughout the progression of the
week. First ADP, then jobless claims, then NFPs all provided an in-line picture of a
threatened labor market which in turn supported Yellen's latest cautionary
commentary about an unengaged labor force which 'may' lead to a delay in hiking
up interest rates.

Regardless gold closed the week down ~ $17.00 completing a third week of losses.
All three of the white metals followed suit with Palladium down some $15.00
perhaps driven by equity market losses as the Dow Jones Industrial Average closed
down 464 points - almost 2.75% on the week. Since then auto sales have come in
fairly in line with the US posting slightly lower than expected 16.4M MoM and
Germany this AM registering a 6.8% increase MoM.

The gold market traded in a $3.00 range in Asia overnight on very low volume with
the SGE premium trading at $2.00 loco London. Buying on dips was evident and
risk as a whole is better bid with news in Europe this morning of a bailout of
beleaguered Portuguese bank - Banco Espirito Santo SA. Physical markets remain
slow and July US Eagle gold coin sales recorded the second slowest month of the
year at just 30,000 ozs. According to figures from the US Mint 2014 bullion coin
sales are 56% below the 2013 number for the same period. Total year-to-date is
296,000 ounces and likely a long way below the 2009 peak of 1.4 million ounces.

Base metals are higher this AM despite China non-maufacturing PMI data coming
in over the week-end a little lower than consensus. Freeport mcMoran has
announced its Indonesian arm will restart exporting Copper concentrates later this
week with an initial shipment of 10kt to China. Spec positioning WoW has seen a
growing long in OI in zinc (55%) and shorts in copper/nickel. Tonight sees the
HSBC PMI numbers for July.

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0%
25%
CFTC Weekly Data
Net Change % Long Change % Short Change %
Note: chart data is derived from mid-market indications
Metals Daily