On Monday 28 September, in the course of mixed trading quotes on gold and silver rose slightly in value against the devaluation of the dollar in the foreign exchange market, FOREX, as well as on the background of positive sentiment in neighboring markets and stock exchanges.
As a result of trading on the COMEX, division of the New York Mercantile Exchange (NYMEX), quotes gold futures rose by 2.50 to 994.10 dollar an ounce, quotes, silver futures rose 13 cents to 16.19 dollars per ounce.
Causes
On Monday, September 28 quotes for precious metals market in conditions of low trading volume showed upward trends in price against the backdrop of the fall of the dollar in the currency market FOREX, and also due to the positive sentiment on the neighboring markets, namely the rise in prices for crude oil market and copper, and stock markets: stock indexes finished trading session in the green zone (so, Dow Jones industrial average was 9789.36 (124.17), Nasdaq Composite - 2130.74 (39.82), SP 500 - 1062.98 (18.60), and against the backdrop of major proposals for the acquisition, which were perceived by investors as a sign of improvement in the economy. prices for metals and contributed to technical factors, namely the common desire of market participants to buy gold assets at lower levels.
From news can note that for the first eight months of 2009 in China were produced 195.8 tons of gold, which is 13,5% greater than during the same period last year. Given such a target in this year's production of the yellow metal in the country should move closer to the mark of 300 tons, which will allow China to continue to hold the world championship in the industry. The total explored reserves of gold in China, now amounting to 4634 tons, of which 2,786 tonnes - of gold ore, 593 tonnes - loose, the other 1,255 tons - obiter gold.
What to expect?
On Monday, during the bidding price for gold formed a side band, and now, according to some analysts, is preparing to make a breakthrough - either up or down, with the main driving factor may be made by U.S. economic data, expected later this week .
Why worry?
negative factor in the gold market appears technical picture, namely the fact that many members of gold of the market there is a perception that observed in the recent correction in prices will trigger further reductions in long positions, so that we can see the level of testing support to $ 960 per troy ounce.
Review of the precious metals market for 28.09.09
Dynamics
On Monday 28 September, in the course of mixed trading quotes on gold and silver rose slightly in value against the devaluation of the dollar in the foreign exchange market, FOREX, as well as on the background of positive sentiment in neighboring markets and stock exchanges.
As a result of trading on the COMEX, division of the New York Mercantile Exchange (NYMEX), quotes gold futures rose by 2.50 to 994.10 dollar an ounce, quotes, silver futures rose 13 cents to 16.19 dollars per ounce.
Causes
On Monday, September 28 quotes for precious metals market in conditions of low trading volume showed upward trends in price against the backdrop of the fall of the dollar in the currency market FOREX, and also due to the positive sentiment on the neighboring markets, namely the rise in prices for crude oil market and copper, and stock markets: stock indexes finished trading session in the green zone (so, Dow Jones industrial average was 9789.36 (124.17), Nasdaq Composite - 2130.74 (39.82), SP 500 - 1062.98 (18.60), and against the backdrop of major proposals for the acquisition, which were perceived by investors as a sign of improvement in the economy. prices for metals and contributed to technical factors, namely the common desire of market participants to buy gold assets at lower levels.
From news can note that for the first eight months of 2009 in China were produced 195.8 tons of gold, which is 13,5% greater than during the same period last year. Given such a target in this year's production of the yellow metal in the country should move closer to the mark of 300 tons, which will allow China to continue to hold the world championship in the industry. The total explored reserves of gold in China, now amounting to 4634 tons, of which 2,786 tonnes - of gold ore, 593 tonnes - loose, the other 1,255 tons - obiter gold.
What to expect?
On Monday, during the bidding price for gold formed a side band, and now, according to some analysts, is preparing to make a breakthrough - either up or down, with the main driving factor may be made by U.S. economic data, expected later this week .
Why worry?
negative factor in the gold market appears technical picture, namely the fact that many members of gold of the market there is a perception that observed in the recent correction in prices will trigger further reductions in long positions, so that we can see the level of testing support to $ 960 per troy ounce.
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