Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


21.10.2014 15:20

Gold: an overview of the market situation

Gold prices rose slightly today, reaching a six-week high at the same time, due to fears of a global economic slowdown. Also increased speculation that a weaker-than-expected growth could force the Fed to delay raising interest rates. Delay of rising interest rates generally increases the demand for gold, as it reduces the relative value of the precious metal retention, guaranteeing a profit to investors.

The course of trade was also affected by today's data on China. It is learned that China's economy in the 3rd quarter grew minimum for the last 5 years rate - growth in July-September was 7.3% compared to the same period last year. GDP growth is lower than the official forecast of 7.5%, which allowed for the current year, the Chinese authorities. Analysts' average forecast was 7.2%. In the second quarter, the GDP was 7.5%. Since 1998, has never not China's GDP is lower than the official forecast. Thus, the probability of acceptance by Beijing of new measures to stimulate business activity. Compared to the previous quarter the economy grew by 1.9% while the forecast of analysts of 1.8%.

The gold market also reacted to the conflicting reports of the European Central Bank purchases of bonds. There are news that the ECB could start buying corporate bonds of troubled countries such as Spain and Italy. But the media in parallel appeared and reported that while this question has not yet been included in the agenda of the December meeting of the ECB.

Rising gold prices also help expectations higher physical demand in India on the eve of the fall wedding season and the festival of Diwali. Autumn wedding season in India, the period of maximum demand for gold jewelry, lasts from November to December. Recall, India is the second largest consumer of gold in the world after China.

Meanwhile, today it was announced that the assets of the largest gold ETF - SPDR Gold Trust - on Monday showed the biggest fall in a year. It was 1.2% - up to 751.96 tons. The volume of assets of the fund at the minimum level since November 2008. Last year, against the backdrop of the collapse of quotations of precious metals assets SPDR Gold Trust fell by 41%. Since the beginning of this year, they fell a further 5.8%.

The cost of the December gold futures on the COMEX today rose to 1252.80 dollars per ounce.

Market Focus

  • Donald John Trump will be the 45th president of the United States
  • Britain can't get full single market access with free movement concessions - Merkel
  • China: Trade Balance, bln, October 49.6 (forecast 51.7)
  • New Zealand CPI, 3Q: 0.2% q/q (forecast 0%), 0.2% y/y (forecast 0.1%)
January 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Служба технической поддержки:
8-800-200-31-00, support@teletrade-dj.com

  • Онлайн-консультация
  • Заказать звонок
  • Написать письмо
Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page