Monthly Metal Review

Gold and Silver

In London, the Gold AM fixing was US$ 897 per ounce and spot Silver traded at US$ 12.96 per ounce, on September 30, 2008.
On the afternoon of Friday September 12 gold was fixed in London at US$ 750.25 per ounce. By the evening of Thursday September 18, the financial turmoil had pushed it back up to $915, with over $100 of that gain coming in 24 hours. Similarly and for much the same reasons, Silver rallied on September 18, fixing in London at US$ 12.93 compared with the previous days US$ 10.77, a gain of 20%.
Thailand’s political crisis meant the launch of trading in gold futures on the Thailand Futures Exchange (TFEX) - planned to start at the end of September - has now been delayed until 2009. Polymetal, the Russian gold and silver producer, said its output of gold would be 0.25 Moz this year, and forecast it to increase to 0.46 Moz by 2011, whereas its silver output is expected to rise to 26 Moz in 2011, from 17.7 Moz this year and 15.9 Moz in 2006.
Output is rising at the company’s Dukat mine. In Australia, the new Boddington mine is foreseen to start production by mid 2009, with initially 6 to 700,000 ounces of gold per year, targeting an average of 850,000 ounces per year over 20 years.

Daily Prices

September 2008

Copper
Date(Fix.) ($/MT)
Average 6990.86
30-09-2008 6419
29-09-2008 6590
26-09-2008 6926
25-09-2008 6905
24-09-2008 6995
23-09-2008 7090
22-09-2008 7166
19-09-2008 6900
18-09-2008 6932
17-09-2008 6932
16-09-2008 6841
15-09-2008 6879
12-09-2008 7096
11-09-2008 6900
10-09-2008 6861
09-09-2008 6926
08-09-2008 6990
05-09-2008 7075
04-09-2008 7420
03-09-2008 7360
02-09-2008 7225
01-09-2008 7371
Silver
Date(Fix.) ($/OZ)
Average 12.37
30-09-2008 12.96
29-09-2008 13.06
26-09-2008 13.18
25-09-2008 13.34
24-09-2008 13.29
23-09-2008 13.38
22-09-2008 12.99
19-09-2008 12.15
18-09-2008 12.93
17-09-2008 10.77
16-09-2008 10.88
15-09-2008 10.84
12-09-2008 10.8
11-09-2008 10.66
10-09-2008 11.27
09-09-2008 12.04
08-09-2008 12.38
05-09-2008 12.72
04-09-2008 13.02
03-09-2008 12.79
02-09-2008 13.18
01-09-2008 13.58
PM MEAN AM Gold
Date(Fix.) ($/OZ)
Average -
30-09-2008 -
29-09-2008 -
26-09-2008 -
25-09-2008 -
24-09-2008 -
23-09-2008 -
22-09-2008 -
19-09-2008 -
18-09-2008 -
17-09-2008 -
16-09-2008 -
15-09-2008 -
12-09-2008 -
11-09-2008 -
10-09-2008 -
09-09-2008 -
08-09-2008 -
05-09-2008 -
04-09-2008 -
03-09-2008 -
02-09-2008 -
01-09-2008 -
Date(Fix.) ($/OZ)
Average -
30-09-2008 -
29-09-2008 -
26-09-2008 -
25-09-2008 -
24-09-2008 -
23-09-2008 -
22-09-2008 -
19-09-2008 -
18-09-2008 -
17-09-2008 -
16-09-2008 -
15-09-2008 -
12-09-2008 -
11-09-2008 -
10-09-2008 -
09-09-2008 -
08-09-2008 -
05-09-2008 -
04-09-2008 -
03-09-2008 -
02-09-2008 -
01-09-2008 -
Date(Fix.) ($/OZ)
Average 829.95
30-09-2008 884.5
29-09-2008 905
26-09-2008 902.5
25-09-2008 888.5
24-09-2008 896
23-09-2008 899
22-09-2008 889
19-09-2008 869
18-09-2008 863
17-09-2008 813
16-09-2008 779.5
15-09-2008 775
12-09-2008 750.25
11-09-2008 740.75
10-09-2008 775.75
09-09-2008 781.75
08-09-2008 808
05-09-2008 808.5
04-09-2008 805.75
03-09-2008 803.5
02-09-2008 798.5
01-09-2008 822.25
Lead
Date(Fix.) ($/MT)
Average 1869.70
30-09-2008 1801
29-09-2008 1835.5
26-09-2008 1980
25-09-2008 1946
24-09-2008 2001
23-09-2008 1950
22-09-2008 1921
19-09-2008 1832.5
18-09-2008 1805
17-09-2008 1813
16-09-2008 1784
15-09-2008 1803.5
12-09-2008 1885
11-09-2008 1806
10-09-2008 1788
09-09-2008 1805
08-09-2008 1850
05-09-2008 1806
04-09-2008 1975
03-09-2008 1920
02-09-2008 1875
01-09-2008 1951
Zinc
Date(Fix.) ($/MT)
Average 1736.89
30-09-2008 1650
29-09-2008 1682.5
26-09-2008 1780
25-09-2008 1755.5
24-09-2008 1764
23-09-2008 1795
22-09-2008 1793
19-09-2008 1713
18-09-2008 1705
17-09-2008 1719
16-09-2008 1701.5
15-09-2008 1716
12-09-2008 1802.5
11-09-2008 1712.5
10-09-2008 1696
09-09-2008 1705
08-09-2008 1735
05-09-2008 1735.5
04-09-2008 1815.5
03-09-2008 1730.5
02-09-2008 1730.5
01-09-2008 1774
Tin
Date(Fix.) ($/MT)
Average 18363.41
30-09-2008 17175
29-09-2008 17815
26-09-2008 18000
25-09-2008 17455
24-09-2008 17700
23-09-2008 17405
22-09-2008 17555
19-09-2008 17195
18-09-2008 17165
17-09-2008 18400
16-09-2008 18350
15-09-2008 18660
12-09-2008 19150
11-09-2008 19005
10-09-2008 18410
09-09-2008 19025
08-09-2008 18925
05-09-2008 18850
04-09-2008 19700
03-09-2008 19400
02-09-2008 19200
01-09-2008 19455