Liquidity shift towards equity markets profit-taking more than gold losses
Falling oil continued significantly during trading today, especially with the disparate American release of the data, which included basic consumer prices and rates of complaints indicator of unemployment, thereby supporting the dollar index, which represents the greenback against the currencies Home and commodities, and that the shift of liquidity in the markets of safe havens around stock The profit taking make gold up to the level of $ 1230.80 an ounce, losing the $ 1240.
The analyzes of the experts it refers to the decline in gold and try to target the level of $ 1229, so that a break of this support will give a negative character of the general trend, which may make it target level of $ 1215 with the continuation of the increasing strength of the dollar and the rise of global stock indices.
Gold falls with the continued rise of the dollar
The price of gold fell on Thursday as a stronger dollar largest daily gain in a month to achieve but losses were limited due to declining oil prices and European markets, thus boosting the propensity to acquire the precious metal as an alternative.
Gold has lost all its earlier gains throughout the week after his arrival to the highest level in three weeks 1262.60 dollars per ounce on Tuesday due to the recovery of the dollar under pressure.
By 0936 GMT, spot gold fell in contracts 0.2 percent to $ 1240.76 an ounce. It fell US gold futures for June delivery to $ 5.70 to $ 1242.60 an ounce.
And silver fell 0.3 percent in the spot transactions to $ 16.14 an ounce after reaching the highest price since October day before. Platinum was down 0.4 percent to $ 999.50 an ounce, while palladium fell 0.4 percent to $ 540.55 an ounce.
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