Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


09.10.2014 15:20

Gold: an overview of the market situation

Gold prices rosetoday, reachingat the sametwo-week high, as theminutes of the Fedlowered thefears ofearlyrate hikes.Nevertheless, therecoveryyield of10-year bondsabove the lowsin Augustput pressure on theprecious metal.

RecallyesterdaypresentedMinutesof the Fed meetingpointed out thedifferencesbetween the members ofthe board of directors.Someof them believethat the existingwordingmisleadingas to the timingof rate increases,and that the growthof interest on loansshould betied tothe success ofthe American economy.The data also showedthat the central bankhas reducedthe United Stateseconomic growth forecastbecause of thefledglingdollar andconcerns aboutthe weakness ofthe global economy.Expectationsof rising interest ratesput pressure ongoldasthe precious metalis inferior incompetition withearning assetswith growthrates.

"Despite thenew interpretation of theprotocolof the meetingof the Fed,we stillbelievethat the central bankwill raiseinterest rates inthe first half of2015,andthereforedo not see anychangesin the forecastforthe gold market," -said the analystINTL FCStone.

Support forgoldalso continues to providea solutionthe International Monetary Fundlowered its forecast forglobal economic growthfor the third timethis year.IMF expertshave warned thatthe global economic recoveryis weakand uneven.

"Pricesarestillupto $1.230-1.240, butat this levelwill beprofitable to sellgold.Given thegrowth of stock markets,is expected to declinein gold pricesby the end ofthe year "- said a traderin Sydney.

Meanwhile,it was reported thatthe world's largestreserves ofthe gold-exchange-traded fundSPDR Gold Trustdeclinedyesterdayby 5.38tons to762.09tons (lowest since December2008.

The cost ofthe Decembergold futureson the COMEXtodayrose to1226.10dollars 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