BillyT's Daily Gold-Silver-Oil Trading Commentary for 13 July 2007

BillyT's Daily Gold-Silver-Oil Trading Commentary for 13 July 2007

GOLD / SILVER:

Gold lost marginal ground vis-à-vis the U.S. dollar today as the yellow metal tested bids around the US$ 664.90 level and was capped around the $668.13 level. The pair remained bid on account of ongoing strength in crude oil prices. Silver was little-changed vis-à-vis the U.S. dollar as the pair tested offers around the US$ 13.17 level and was supported around the $13.02 level.

CRUDE OIL:

Crude oil appreciated vis-à-vis the U.S. dollar today as light, sweet NYMEX crude oil futures for August delivery tested offers around the US$ 73.71 level and were supported around the $72.32 level. The International Energy Agency reiterated its calls for OPEC to increase production to reduce energy prices. News that Iran may agree to some United Nations inspections of its uranium enrichment facilities will be closely reviewed by traders.


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