Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

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



19.06.2014 15:20

Gold: an overview of the market situation

Gold prices rose sharply today, reaching in this four-week high, which was due to the weakening of the dollar and the Federal Reserve's statements that the policy remains committed to adaptive measures and low interest rates.

Recall that the U.S. central bank yesterday reduced the amount of QE to $ 10 billion - $ 35 billion, but kept the benchmark interest rate at a record low of 0-0.25% per annum. The Fed also changed the outlook on the dynamics of the interest rate on the 2015-2016 years. Regulator expects that by the end of 2015 it will be 1.25% (previous forecast by - 1%), and by the end of 2016 will grow to about 2.5% instead of 2.25% previously expected. The Fed also worsened outlook for economic growth in the country in 2014 to 2.1-2.3% from the expected 2.8-3% in March, according to a press release from the regulator. Inflation at 1.5-1.7% (from the March forecast - 1.5-1.6%), the unemployment rate will be within 6-6,1% instead of the previously expected 6.1-6.3%. Forecast for 2015 U.S. GDP growth remained at 3-3.2%, inflation - at the level of 1.5-2%, and the forecast for unemployment lowered to 5.4-5.7% from the previous 5.6 - 5.9%. In the long term, the Fed predicts growth of world's largest economy by 2.1-2.3%, the unemployment rate in the range 5.2-5.5%, inflation at around 2%.

As for today's events, the data had little impact on the U.S. labor market, which showed that the number of initial claims for unemployment benefits fell by 6,000 and amounted to a seasonally adjusted 312,000 in the week ended June 14. Economists had expected the number of applications will be reduced to only 316,000 to 318,000. Moving average for four weeks, which smooths weekly volatility, fell by 3,750 to 311,750. The report also showed that the number of workers continuing to receive unemployment benefits amounted to a seasonally adjusted fluctuations 2,560,000, a decrease of 54,000 in the week ended June 7.

Market participants also continue to monitor the developments in Iraq and Ukraine. "A weaker dollar and geopolitical tensions support gold prices, but the lack of strong physical demand and outflow of funds from exchange-traded funds can weaken Rally" - said precious metals trader in Hong Kong.

Due to low demand in the physical market, ">Stocks of the world's largest gold exchange-traded fund secured SPDR Gold Trust declined two consecutive session until Wednesday, approaching the five-month minimum.

The cost of the August gold futures on the COMEX today rose to $ 1298.0 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