- Analytics
- News and Tools
- Market News
- Gold is a moderately reduced
Gold is a moderately reduced
Gold prices decline stopped after comments from the European Commission on anti-debt crisis in the eurozone.
Eurozone must accelerate economic growth and reduce debt to regain investor confidence, but it must also move in the direction of the banking union, think of Eurobonds and direct recapitalization of banks through a permanent relief fund, according to the recommendations of the Commission.
The cost of borrowing for Spain in the meantime has exceeded 6.5 percent, while government bond yield at over 7 percent of other countries on the periphery of the eurozone have been forced to apply for financial aid. Against this backdrop, the euro fell to the lowest level in two years against the dollar.
From the macro-economic statistics coming out this week, the impact on the gold market may have data on the growth of the U.S. economy coming out on Thursday, and employment data coming out on Friday.
Stocks of gold-ETF-fund down the third consecutive month, dropping to a four-month low 69.59 million ounces.
The cost of the June gold futures on the COMEX today has grown to $ 1555.8 an ounce, then dropped to $ 1530.4 and is now trading at $ 1547.4 an ounce.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
