On Friday 24 July, at the tender quotes for gold fell slightly in price, but the September futures for silver have increased in price by 10.5 cents. The background to this is the weak dollar on the foreign exchange market, sluggish growth in the stock yards and the desire to fix the profit.
As a result of trades on the COMEX, division New York commodity exchange (NYMEX), gold stood at around 953.10 dollars per troy ounce, while silver closed at around 13.87 dollars per ounce.
Causes
On Friday 24 July to bid on the gold market by the participants saw a fixation after good earnings growth. Rising oil prices and the weak dollar did not give prices for precious metals significantly reduced. In contrast, gold futures for silver have increased, mainly due to the creation of a new stock index fund for silver /ETF /.
From the news are the message of Hochschild Mining plc that, based on 19% growth in production (relative to target in 2008) in the second quarter of this year, she was ready to make 28 million ounces (871 tonnes) of silver equivalent in the 2009, the equivalent amount of silver in the second quarter amounted to 7.2 million ounces (224 tons) and also demonstrated a 9% increase relative to the previous quarter. The production includes 4.8 million ounces (149 tonnes) of silver and 40.2 thousand ounces (13 tonnes) of gold, which showed respectively 27% and 5% growth in the volume of metal compared to the same period last year. The results obtained through the expansion in the Peruvian mines Arkata and Pallankata, Argentina and San Jose, the construction of which was completed in 2008 As a result, compared with the corresponding period last year, the volume of production of silver and gold at the mine Pallankata increased more than twice, at the mine Arkata - by 46% and 67%, and San Jose - 16% and 46%, respectively.
What to expect?
which came a week is likely to be positive on the market of precious metals. Technical level stand, which, coupled with the mood of investors, put on the growth of metals, is rather the weighted positive signal for continued growth.
What is fear?
After a successful week on the gold market may be continued to observe a fixed profit, which began on Friday, but somewhat stronger in magnitude. It is also possible because of the serious pereprodannosti Treasury securities, which investors can begin to buy.
Precious metals market review for 24.07.09
Dynamics
On Friday 24 July, at the tender quotes for gold fell slightly in price, but the September futures for silver have increased in price by 10.5 cents. The background to this is the weak dollar on the foreign exchange market, sluggish growth in the stock yards and the desire to fix the profit.
As a result of trades on the COMEX, division New York commodity exchange (NYMEX), gold stood at around 953.10 dollars per troy ounce, while silver closed at around 13.87 dollars per ounce.
Causes
On Friday 24 July to bid on the gold market by the participants saw a fixation after good earnings growth. Rising oil prices and the weak dollar did not give prices for precious metals significantly reduced. In contrast, gold futures for silver have increased, mainly due to the creation of a new stock index fund for silver /ETF /.
From the news are the message of Hochschild Mining plc that, based on 19% growth in production (relative to target in 2008) in the second quarter of this year, she was ready to make 28 million ounces (871 tonnes) of silver equivalent in the 2009, the equivalent amount of silver in the second quarter amounted to 7.2 million ounces (224 tons) and also demonstrated a 9% increase relative to the previous quarter. The production includes 4.8 million ounces (149 tonnes) of silver and 40.2 thousand ounces (13 tonnes) of gold, which showed respectively 27% and 5% growth in the volume of metal compared to the same period last year. The results obtained through the expansion in the Peruvian mines Arkata and Pallankata, Argentina and San Jose, the construction of which was completed in 2008 As a result, compared with the corresponding period last year, the volume of production of silver and gold at the mine Pallankata increased more than twice, at the mine Arkata - by 46% and 67%, and San Jose - 16% and 46%, respectively.
What to expect?
which came a week is likely to be positive on the market of precious metals. Technical level stand, which, coupled with the mood of investors, put on the growth of metals, is rather the weighted positive signal for continued growth.
What is fear?
After a successful week on the gold market may be continued to observe a fixed profit, which began on Friday, but somewhat stronger in magnitude. It is also possible because of the serious pereprodannosti Treasury securities, which investors can begin to buy.
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