- Analytics
- News and Tools
- Market News
- Gold: an overview of the market situation
Gold: an overview of the market situation
Gold prices rose sharply, rising at the same time above $ 1580, helped by the further weakening of the U.S. currency. Meanwhile, experts say that now in the market there is a marked correction after prices last week reached a 10-month low.
They also point out that the positive Chinese inflation data helped the euro, dropped while the dollar. This has contributed to the growth of interest in the assets, which are expressed in terms of the dollar, to which the right is gold.
Note also that many investors still remain cautious with respect to the metal, however, after prices fell sharply last week, gold is struggling to regain the lost ground that was lost after weak employment data in the U.S..
Meanwhile, we note that many traders will be watching tomorrow's publication of protocols FOMC, as they can provide a hint about the future of U.S. monetary policy, and in particular, any change in the policy of quantitative easing.
Also today it was announced that UBS and Deutsche Bank lowered its target prices for gold this year to $ 1,740 an ounce from $ 1,900, and 12% up to $ 1,637 per ounce, respectively.
May futures on COMEX gold rose today, and now stands at 1586.60 dollars per 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
