Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

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



06.06.2013 15:20

Gold: an overview of the market situation

Gold prices rose, rising above $ 1,400 an ounce, which helped comments European Central Bank President Mario Draghi, and the decision to leave interest rates unchanged. The head of the Central Bank said that the inflation rate in the euro zone has been volatile in 2013. He assured that the inflation outlook remains "balanced," noting that the CPI growth risks were associated with higher indirect taxes and the prices of raw materials and downstream risks - with the weakness of economic activity. Despite the fact that the Central Bank is expected gradual recovery in economic activity in the second half of 2013, as evidenced by the growth of economic indicators, there are different factors that will contribute to easing - for example the slow implementation of reforms by national governments, as well as weak domestic demand. Central Bank is ready to support demand through monetary policy, which will remain accommodative until it is needed. Draghi said that the EU should carry out structural reforms to boost competitiveness, employment, and reduce the deficit.

Also worth noting is that the dynamics of trade affected by what many investors are waiting for the publication of data on U.S. non-farm payrolls.

Add that previously precious metal came under pressure against the backdrop that the Government of India, the world's largest gold buyer, has decided to increase the tax on imports of the precious metal in the fight with a record level of current account deficit. So duty on import of gold and platinum was increased from 6% to 8%. According to forecasts of Trade Federation All India Gems & Jewellery, in the current year the volume of gold imports may fall by 20%.

Meanwhile, today it was announced that the gold reserves in the SPDR Gold Trust were unchanged on Wednesday, after falling 0.3% in the previous session, which is a four-year lows.

The cost of the August gold futures on COMEX today rose to 1405.10 dollars an ounce.

Market Focus

  • US nonfarm payrolls rise more than expected in July
  • Canada’s merchandise trade deficit widens in June
  • Canada unemployment rate falls to lowest level since October 2008
  • Canada Ivey PMI falls less than expected in July
August 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
21
22
23
24
25
26
27
28
29
30
31

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