Vitaliy Shevchenko, an analyst company UMIS, currency market, the oil sector, non-ferrous metals
Dynamics
Wednesday on bid quotes on gold and silver showed a positive attitude, against the backdrop of growth in purchases of physical gold, which are activated by lowering the prices of yellow metal.
As a result of trades on the COMEX, division New York Commodity Exchange (New York Mercantile Exchange, NYMEX) gold stood at around 941.30 dollars per troy ounce, while silver closed at around 13.76 dollars per ounce.
Causes
The fall of the U.S. currency due to release data on employment in the private sector, the message that China wants to discuss the new global reserve currency in the Group of Eight summit in Italy next week, as well as the fixing of profit on short-term positions after yesterday's fall - that the bunch positive for precious metals, which pushed prices up.
What to expect?
It is obvious that it was too weak dollar is not included in the plans Fedrezerva and the U.S. government, so it can be expected that the verbal support for the currency will be carried out with the same force. However, no assurances can not obscure the fact that its budget deficit this year will rise to 1.86 trillion. dollars, but the amount of borrowing will be 3.25 trillion. dollars. Part of these imports will be met through the printing press the U.S. Federal Reserve, which in the long term, will exert pressure on the dollar. Therefore, activation of buying physical gold can be a sign that the new minimum at a higher level has stabilized and further decline in the price of gold is less likely.
What is fear?
However, as yet too early to talk about the attempts of players to the new growth of quotations of gold. To that end, the market appeared more serious pressure on the U.S. currency and inflation expectations have risen.
Precious metals market review for 01.07.09
Vitaliy Shevchenko, an analyst company UMIS, currency market, the oil sector, non-ferrous metals
Dynamics
Wednesday on bid quotes on gold and silver showed a positive attitude, against the backdrop of growth in purchases of physical gold, which are activated by lowering the prices of yellow metal.
As a result of trades on the COMEX, division New York Commodity Exchange (New York Mercantile Exchange, NYMEX) gold stood at around 941.30 dollars per troy ounce, while silver closed at around 13.76 dollars per ounce.
Causes
The fall of the U.S. currency due to release data on employment in the private sector, the message that China wants to discuss the new global reserve currency in the Group of Eight summit in Italy next week, as well as the fixing of profit on short-term positions after yesterday's fall - that the bunch positive for precious metals, which pushed prices up.
What to expect?
It is obvious that it was too weak dollar is not included in the plans Fedrezerva and the U.S. government, so it can be expected that the verbal support for the currency will be carried out with the same force. However, no assurances can not obscure the fact that its budget deficit this year will rise to 1.86 trillion. dollars, but the amount of borrowing will be 3.25 trillion. dollars. Part of these imports will be met through the printing press the U.S. Federal Reserve, which in the long term, will exert pressure on the dollar. Therefore, activation of buying physical gold can be a sign that the new minimum at a higher level has stabilized and further decline in the price of gold is less likely.
What is fear?
However, as yet too early to talk about the attempts of players to the new growth of quotations of gold. To that end, the market appeared more serious pressure on the U.S. currency and inflation expectations have risen.
Reducing energy consumption in the United States makes oil to get rid of its commodity contracts
With a high degree of probability before the end of the day the preponderance of sales in the Russian market will continue
On Friday and next week to become relevant trading strategies based on sales of unsecured
Recommendations on the stock market: LUKOIL, MMC Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
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