Good morning, Resource Investors.

Overseas economic jitters boosted gold. However, with Greece's debt burden and Germany's stalling economic recovery also weighing on the euro, the precious metal's gains were limited by a rise in the U.S. dollar. Although the February contract is off contract highs of well over $1,200 an ounce, it has recovered off recent lows to close at $1,140 on Tuesday.

In other metals news, BHP Billiton Ltd. announced its quarterly iron ore production has hit record levels, allowing the company to take advantage of rising spot metals prices. Iron ore uses a benchmark pricing system. However, with the spot price well above the current benchmark, the company has been advocating a shift away from the traditional system in favor of one that allows it to better take advantage of spot or indexed prices. This additional production may be evidence of its ability to do so.

The rising dollar/falling euro also had a bearish effect on the crude oil market. Crude was further pressured by stockpiles that climbed for the third week in a row through Jan. 15.

For more on the reasons behind these moves, see these headlines, where you can catch up on what happened in the resource markets this past week -- and prepare for the next.

James Holter
Resource Investor

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