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Precious metals and more tension before the end of this year
Witness in the world financial markets fell sharply in trading volumes, and this is common in the market before year-end holidays. Has managed European equity indices yesterday the closure on a significant increase, as well as U.S. financial markets for the shares of which rose at about the Dow Jones rose 0.51% and the benchmark S & P500 on the high rate of 0.83%. Attributed the cause of this increase that the ECB has succeeded in selling loans to the European banking sector, amounting to 489 billion euros, as well as the U.S. economy was able to achieve moderate growth during the third quarter of this year and by 1.8%.
Comic thing is that financial markets were considered by the European Central Bank to provide loans of $ 489 billion and a negative signal that the European banking sector is stable, but on the other hand, considered this a positive day yesterday because he supports the banking sector! And the most surprising is that the value of U.S. GDP in the final reading for the third quarter level was reduced from 2.0% to 1.8%, and this had to be considered a negative and a sign that the U.S. economy vulnerable witness!
However, traders deemed yesterday that what happened is positive, and thus shares rose, but in return traders away from the precious metals markets and down, and perhaps the reason for this is their tendency toward high-yield assets. The price of gold fell yesterday by 0.59% during the New York session and closed at 1605.40 dollars an ounce, while the price of silver had been closed on a loss of 0.65% and closed one ounce of silver at 29.13 dollars. For platinum, it has declined over the New York session by 0.42% and closed yesterday at 1419.00 dollars per ounce.
In fact, we see that the lower volumes in financial markets is a major cause behind the volatility witnessed in precious metals markets, few number of traders and the departure of capital-and hedge funds provide an opportunity for small traders in the control of market prices, and this really seems convincing as we approach from the year-end holidays. Our view, this is the reason for the movement of precious metals, but the financial markets in general, and we can not link the increase or decrease in economic facts or data you get in the financial markets.
Bank of Japan cut its assessment of today's economy after the crisis of European sovereign debt, as well as the high exchange rate of Japanese yen. He gave the bank a negative outlook for the future of the Japanese economy in light of the economic problems facing the international economy from slowing down, and this report was the reason because the reduced Japan's Nikkei by 0.77% today despite the high number of other indicators during the Asian session today, including high index of Shanghai Composite by 0.85%.
The tension and volatility in the markets of precious metals with low trading volumes and the control of traders are young, and today we see that the precious metals trading positively, including the price of gold today by 0.40% currently trading at the moment when the level of 1611.80 dollars an ounce, offsetting part of the loss of New York and offsetting the loss of all the gold in the London, while the price of silver has risen by 0.48% today, currently trading at the moment when the level of 29.27 dollars. Platinum also rose by 0.99% currently trading at this time at a price of $ 1433.00 an ounce yesterday, recouping all the losses. These prices are also at about 2:48 New York time (07:48 GMT).
Witness in the world financial markets fell sharply in trading volumes, and this is common in the market before year-end holidays. Has managed European equity indices yesterday the closure on a significant increase, as well as U.S. financial markets for the shares of which rose at about the Dow Jones rose 0.51% and the benchmark S & P500 on the high rate of 0.83%. Attributed the cause of this increase that the ECB has succeeded in selling loans to the European banking sector, amounting to 489 billion euros, as well as the U.S. economy was able to achieve moderate growth during the third quarter of this year and by 1.8%.
Comic thing is that financial markets were considered by the European Central Bank to provide loans of $ 489 billion and a negative signal that the European banking sector is stable, but on the other hand, considered this a positive day yesterday because he supports the banking sector! And the most surprising is that the value of U.S. GDP in the final reading for the third quarter level was reduced from 2.0% to 1.8%, and this had to be considered a negative and a sign that the U.S. economy vulnerable witness!
However, traders deemed yesterday that what happened is positive, and thus shares rose, but in return traders away from the precious metals markets and down, and perhaps the reason for this is their tendency toward high-yield assets. The price of gold fell yesterday by 0.59% during the New York session and closed at 1605.40 dollars an ounce, while the price of silver had been closed on a loss of 0.65% and closed one ounce of silver at 29.13 dollars. For platinum, it has declined over the New York session by 0.42% and closed yesterday at 1419.00 dollars per ounce.
In fact, we see that the lower volumes in financial markets is a major cause behind the volatility witnessed in precious metals markets, few number of traders and the departure of capital-and hedge funds provide an opportunity for small traders in the control of market prices, and this really seems convincing as we approach from the year-end holidays. Our view, this is the reason for the movement of precious metals, but the financial markets in general, and we can not link the increase or decrease in economic facts or data you get in the financial markets.
Bank of Japan cut its assessment of today's economy after the crisis of European sovereign debt, as well as the high exchange rate of Japanese yen. He gave the bank a negative outlook for the future of the Japanese economy in light of the economic problems facing the international economy from slowing down, and this report was the reason because the reduced Japan's Nikkei by 0.77% today despite the high number of other indicators during the Asian session today, including high index of Shanghai Composite by 0.85%.
The tension and volatility in the markets of precious metals with low trading volumes and the control of traders are young, and today we see that the precious metals trading positively, including the price of gold today by 0.40% currently trading at the moment when the level of 1611.80 dollars an ounce, offsetting part of the loss of New York and offsetting the loss of all the gold in the London, while the price of silver has risen by 0.48% today, currently trading at the moment when the level of 29.27 dollars. Platinum also rose by 0.99% currently trading at this time at a price of $ 1433.00 an ounce yesterday, recouping all the losses. These prices are also at about 2:48 New York time (07:48 GMT).
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