Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

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



14.03.2014 15:20

Gold: an overview of the market situation

Gold prices rose sharply today , reaching the highest level in six months , benefiting from the fall in stock prices , which was due to tensions between Russia and Ukraine and the problems of economic growth in China.

Since the beginning of the week the price of the precious metal rose more than 2 percent , and are on their way to their sixth consecutive weekly increase , as risk appetite decreased by increasing political tensions and economic problems.

Gold rose 14 percent this year after a 28 percent decline in 2013 , ending a 12- year increase in a row.

" As for Ukraine , the impact on gold can disappear quickly if there is a diplomatic solution , whereas the structural changes that occur in China can affect the precious metals longer," reported Deutsche Bank. "But we still believe that the U.S. labor market and the Fed's policy will play a major factor in the movement of prices , and in the long run you will see the price drop ."

It should also be noted that the rise in prices to attract new investors and simultaneously reduces demand in the physical market in developing countries. In the future, gold will meet increasingly strong resistance , and significant growth opportunities would need a stronger euro . Reduction of physical demand in China , at least temporarily prevent a new rally.

In addition, data showed that the world's largest reserves of gold exchange-traded fund secured SPDR Gold Trust rose yesterday to 2.1 tons - up to 813.3 tons.

Demand in China - the world's largest consumer of gold declined and prices on the Shanghai Gold Exchange were at $ 4 per ounce lower than the spot price in London , while at the beginning of the year, prices in China were $ 20 higher.

The cost of the April gold futures on the COMEX today rose to $ 1385.20 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