Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


16.07.2014 15:20

Gold: an overview of the market situation

Gold futures rose moderately today, offsetting more than half of yesterday's fall, which was associated with the release of better than expected U.S. data on producer price index.

U.S. Labor Department reported that the producer price index for final demand rose by a seasonally adjusted 0.4% in June compared with the previous month. It was more than 0.2% increase on the forecast of economists, and a 0.2% decline in May.

In June, producer prices rose by 1.9% compared with a year ago, slightly less than 2% of the annual increase tion in May and increase in April by 2.1%. The rise in prices in June was led by a 2.1 percent increase in energy prices. Gasoline prices rose by 6.4% at the beginning of the summer driving season, while accommodation and airline passenger traffic has also increased. Food prices fell 0.2%, showing a decline for the second month in a row after a sharp rise earlier this year.

Investors will also pay attention to today's speech of Fed Janet Yellen before the Financial Services Committee of the House of Representatives. In general, she repeated her speech yesterday, saying that the U.S. economic recovery is not yet complete, despite a marked improvement in recent years, and a high degree of accommodation of monetary policy is still needed. As an example, Yellen noted the continuing weakness of the labor market. She made ​​it clear that, if the situation on the labor market will stabilize sooner than expected, and that the rate increase may occur earlier than planned FOMC. However, as she believes that rates will remain low for a long time after the completion of QE. Fed chief expressed concerns about the recovery of the housing market, which has recently slowed.

"Despite the fact that the Fed's Yellen position has conservation soft policy, gold markets interpreted her words about the possibility of an early increase in interest rates as a negative for gold," - analysts said HSBC.

Apparently, in the coming days the price of gold price dynamics will be limited to the level of support $ 1290.0 per ounce and resistance level $ 1310.0 per ounce, experts say.

The cost of the August gold futures on the COMEX today rose to $ 1303.20 per ounce.

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
July 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