On Thursday 16 July at the bid price of gold fell slightly after three days of growth. A weak dollar was not able to support the yellow metal, as investors have doubts about the prospects of investment appeal of gold.
As a result of trades on the COMEX, division New York commodity exchange (NYMEX), gold stood at around 935.40 dollars per troy ounce, while silver closed at around 13.24 dollars per ounce.
Causes
Quotations gold futures fell slightly as a result of trades on Thursday, as market participants recorded growth in profits after the last few sessions. Quotations silver futures rose slightly. Promotion was mainly due to low trading volume. According to the Unit Trust ETF Securities Ltd., Investment in gold fell by 0.3% on 16 July, and the reserves of the fund amounted to only 7.57 million ounces. Part of this process of reducing the investment in mutual funds linked to the fact that major players convert their shares in real gold, the cost of storage which is lower than the purchase of shares and payments for services funds.
From the news it may be noted that the Canadian gold mining company Eldorado Gold Corp announced that acquires 57.9 million shares in the Australian Sino Gold Mining Ltd, in exchange for 27.8 million shares. The transaction will be completed before the end of July. Sino Gold is engaged in exploration and mining of gold in China and owns a two operating mines.
What to expect?
The dramatic increase in the quotations for gold July 15, a bit put into stupor market of precious metals. At this moment occurs a small consolidation. The market passes through a waiting period, is looking for direction. The ability of oil prices to continue to support the growth of the positions of gold and rising momentum in the precious metals market.
What is fear?
soon expect another attack on the dollar and raise interest in the dollar. Although the influence of the American currency might not support the yellow metal, as well as the emerging wave of growth in the financial markets has diverted a significant portion of the money.
Precious metals market review for 16.07.09
Dynamics
On Thursday 16 July at the bid price of gold fell slightly after three days of growth. A weak dollar was not able to support the yellow metal, as investors have doubts about the prospects of investment appeal of gold.
As a result of trades on the COMEX, division New York commodity exchange (NYMEX), gold stood at around 935.40 dollars per troy ounce, while silver closed at around 13.24 dollars per ounce.
Causes
Quotations gold futures fell slightly as a result of trades on Thursday, as market participants recorded growth in profits after the last few sessions. Quotations silver futures rose slightly. Promotion was mainly due to low trading volume. According to the Unit Trust ETF Securities Ltd., Investment in gold fell by 0.3% on 16 July, and the reserves of the fund amounted to only 7.57 million ounces. Part of this process of reducing the investment in mutual funds linked to the fact that major players convert their shares in real gold, the cost of storage which is lower than the purchase of shares and payments for services funds.
From the news it may be noted that the Canadian gold mining company Eldorado Gold Corp announced that acquires 57.9 million shares in the Australian Sino Gold Mining Ltd, in exchange for 27.8 million shares. The transaction will be completed before the end of July. Sino Gold is engaged in exploration and mining of gold in China and owns a two operating mines.
What to expect?
The dramatic increase in the quotations for gold July 15, a bit put into stupor market of precious metals. At this moment occurs a small consolidation. The market passes through a waiting period, is looking for direction. The ability of oil prices to continue to support the growth of the positions of gold and rising momentum in the precious metals market.
What is fear?
soon expect another attack on the dollar and raise interest in the dollar. Although the influence of the American currency might not support the yellow metal, as well as the emerging wave of growth in the financial markets has diverted a significant portion of the money.
The number of insurance frauds in the world will grow to more than double in 2009
Ex-Finance Minister Pynzenyk considers unrealistic performance of the state budget-2009
Cabinet need to reduce the cost of 20 billion
Among the papers second tier are allocated shares of metallurgists, as well as aircraft coming in 10% after quarterly report paper Mosenergo
Today, the price of shares GMK Norilsk Nickel rose almost 4%
Recommendations on the stock market: LUKOIL, MMC Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
European stock markets closed on Thursday, rising to a monthly maximum of
Yesterday, a pair of Euro /dollar to the U.S. session trading in a 1.4095-1.4165
Asia: Rubin remarks raised hopes of