Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:
  • All news
  • Currencies
  • Stocks
  • Commodities



08.05.2013 15:20

Gold: an overview of the market situation

Gold prices rose, as many traders were confident that a strong Chinese economic data will increase demand in the second world consumer of the metal. Also today it was announced that the demand for gold coins and bars from India and China, which are the largest consumers continues to grow larger than normal.

We also note that the data that were presented today General Administration of Customs show that in the past month, the growth of China's exports exceeded economists' expectations, thus weakening the concerns about slowing economy. However, the data fueled skepticism about their accuracy after the detection of unusual trends in the trade data for the last few months. Today's data showed that the annualized amount of the April exports increased by 14.7 percent, compared with a forecast at 9.2 percent growth. Meanwhile, imports grew by 16.8 percent, exceeding the expectations of a 13 percent increase. Given these data, the trade surplus in April totaled $ 18,160 billion, higher than the expected surplus of $ 16.15 billion also add that in comparison with March, exports rose by 2.7 percent, while imports fell by 7 , 7 percent. Recall that in March, the figures for trade were relatively weaker, and the trade balance even went to the deficit.

At the same time, UBS analysts believe that, while demand for gold remains high, it has slowed down compared to the rates that occurred in late April, which was associated with an increase in prices. Analysts and traders said the rise in global equity markets, particularly in the United States and Japan also limits the investor demand for gold as a safe haven.

We also learned that the gold reserves in the SPDR Gold Trust fell yesterday by 0.4% to 1,057.79 tons, the lowest level since March 2009.

The cost of the June gold futures on COMEX today rose to 1465.00 dollars an ounce.

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
March 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.

Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page