Market news
14.07.2014, 15:20

Gold: an overview of the market situation

Gold prices fell sharply today, losing more than 2 percent, which was associated with fading concerns about Portugal's largest public bank Banco Espirito Santo. Analysts also point out that the cause of the fall was also the fact that some traders believed the rise in prices to the level of excessive four-month high, and also want to get a distinct view when American politicians may start raising interest rates. This week, investors are waiting for speeches in Congress Fed Chairman Janet Yellen to get fresh hints on the future direction of monetary policy after the last week of June Fed meeting minutes gave little idea of ​​when they can begin to grow tender.

Meanwhile, adding that demand in the physical market in Asia remains weak due to high prices.

"Demand in China, India and other countries in Southeast Asia was low the last few weeks. If in the near future will not be a sharp decline in prices, one can hardly expect support from the physical markets, "- said a dealer in Singapore.

Experts World Gold Council (WGC) estimated that half of the gold in 2014 I showed a higher yield than most other instruments. Gold for the first half increased in price by 9.2%. Better shown themselves only certain goods (such as grain, nickel and palladium), shares of Indian companies (in the background change the ruling party in India) and U.S. real estate investment trusts REIT. Height gold surprised many market participants, wrote in his report WGC. Most analysts predicted lower prices. Some investors took advantage of price correction in the past year to buy gold, but investment demand remains weak.

Also today it was announced that the U.S. mining company in April of this year, gold production decreased by 3% compared to the same period a year earlier to 17.6 tons. From the beginning of this year, gold production amounted to 69.1 tons, which is 5% lower than for the same period in 2013. The average price of the precious metal bullion by Engelhard in April of this year amounted to 1 301.12 an ounce, up 37.73 dollars below the March price. So, the past month gold lost 2.8%. In the period from January to April, the U.S. imported 101 tonne gold. U.S. exports of gold for I quarter of 2014 amounted to 186 tons.

The cost of the August gold futures on the COMEX today dropped to $ 1309.00 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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
Feedback
Live Chat E-mail
Up
Choose your language / location