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Dow +126.13 at 15864.98, Nasdaq +80.96 at 4132.39, S&P +22.66 at 1796.86 – 30-Jan-14 15:30 ET
  • Precious metals traded lower today as the dollar index climbed on this morning’s GDP data. According to the advance reading, GDP rose 3.2% in Q4, while the consensus estimate called for a 3.0% increase.
  • Feb gold brushed a session low of $1237.50 per ounce in morning action and traded in a consolidative fashion just above that level for the remainder of the session. Unable to gain momentum, it settled with a 1.6% loss at $1241.90 per ounce.
  • Mar silver dipped to a session low of $18.97 per ounce and eventually settled at $19.13 per ounce, or 2.1% lower. 
  • Mar crude oil, on the other hand, gained strength on the GDP data. The energy component touched a session high of $98.59 per barrel moments before equity markets opened and spent the remainder of the session trading just below that level. It settled with a 1.0% gain at $98.25 per barrel.
  • Mar natural gas erased most of yesterday’s 10% gain as it tumbled on forecasts for milder weather and inventory data. The EIA reported that inventories for the week ending Jan 24 showed a draw of 230 bcf when a draw of 231-236 bcf was anticipated. Priced touched a session high of $5.30 per MMBtu in late morning pit trade but slipped again in afternoon action. Natural gas dipped to a session low of $4.98 per MMBtu moments before settling at $5.02 per MMBtu, or 7.6% lower.

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