Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


20.12.2013 16:20

Gold: an overview of the market situation

Gold futures rose today, but , nevertheless, remain near six-month lows on the news that the Federal Reserve will begin to reduce the amount of its program to stimulate the economy in the next month , which will put pressure on the precious metal. Now gold prices could recover above $ 1,200 per ounce, which was broken during yesterday's trading .

Meanwhile, we add that the attention of the market also attracted U.S. GDP data . It is learned that the U.S. economy grew stronger pace of 4.1 % in the third quarter. Growth was stronger than previously estimated , as new data showed that consumer spending accelerated in the summer.

Department of Commerce previously reported on the annual growth rate of 3.6 % in July-September . A new estimate on Friday showed that gross domestic product , the sum of all goods and services produced in the economy grew at the fastest pace since the fourth quarter of 2011, and became the second fastest rise since the beginning in mid-2009 . Economists had forecast a revised third-quarter growth rate of 3.6%.

In addition, it was reported that the world's largest reserves of gold exchange-traded fund secured (ETF) SPDR Gold Trust on Thursday declined by 3.9 tonnes to 808.72 tonnes - its lowest level in nearly five years. Outflow for the year of the eight largest " gold " ETF world totaled 720 tons, as investors prefer stocks.

Demand in the physical market grew only slightly at lower prices because consumers expect that gold prices will drop even more.

Studies show that experts expect a reduction in demand for the metal. Manufacture of jewelery will fall significantly in the near future that will provoke the proposed reduction of gold bullion purchases by 50%.

The cost of the December gold futures on the COMEX today rose to $ 1200.40 per 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