Metal Prices October 2012

In a rather sharp contrast to the past several months metals have fallen and the dollar has risen in value.

For the month of October (Sept 23-Nov 7) the US Dollar Index has risen around 1%

Silver is down about 6%

Gold is down 3.6%

Copper is down 6.7%

A general rule of thumb is, if the dollar rises the price of commodities fall. In our current economic climate, without knowing the full extent that QE-3 will have and the wild market fluctuations after the presidential election, it is difficult to know what November will look like.

The fundamentals of Americas mixed-economy (part free, part government managed), have kept the prices of many goods either artificially high or artificially low which, no doubt, will keep stability at arms length.

Metal Prices for September 2012

The general trend for the past month is that metals have risen and the dollar fallen.

For the month of September (23rd) the Dollar Index (DXY) is down roughly 3%

Silver is up 10.7%

Gold is up 10.4%

Over the past 60 days Copper is also up around 11%

I will be updating these 4 charts on or about the 23rd of each month. Kitco's shortest chart for Copper is 60 days so there will be some overlap between months.