Review of the precious metals market for 26.01.10
Dynamics
Tuesday, January 26 quotes for gold and silver have completed trades with the increase in value against the backdrop of recovery of risk appetite, but also because of technical buying.
As a result of trading on the COMEX, division of the New York Mercantile Exchange (NYMEX), quotes gold futures rose by 2.70 to 1099.50 dollars per troy ounce, quotes, silver futures rose 29 cents to 17.86 dollars per ounce.
Causes
Tuesday, January 26 futures on precious metals have completed trades with the increase in value under the following factors: 1 - economic makrostatistika - favorable report on consumer sentiment prompted traders who had previously sold the gold to its purchase (calculated Conference Board index of confidence U.S. consumers rose in January to 551000.9 from 53.6 in December, exceeding the forecast of 54.0), 2 - technical reasons - Gold futures bought at lower levels, after declining earlier in the session, 3 - good physical demand Gold from Far Eastern investors, observed recently, and the adjustment of positions related to the Expiration Date (Tuesday expiring options on the February contract for gold) supported the “gold” prices. After falling prices the demand for gold associated with the jewelry industry, often growing, which also contribute to the purchase before the new year on the Chinese calendar.
Many precious metals recovered some positions due to rebound in gold prices, but lower levels of completed tenders closing the previous session. Platinum group metals hit by news from China. The rebound in prices for platinum was driven by purchases at lower levels, given the launch of new traded index funds, which create demand for metals.
What to expect?
Traditional purchase of precious metals in the early years of the funds, the overall improvement in investor sentiment, as well as decrease the U.S. dollar will provide sustained support to the quotations of gold and silver. However, the situation could change dramatically if the dollar will resume its strengthening, as the inverse correlation between the dollar and the prices of precious metals continues.
Why worry?
volatile changes in the currency market may be reflected in the sharp fluctuations of prices for precious metals.
Today in the U.S. is expected: the sale of new housing, oil reserves, a key Federal Reserve rate, reporting Caterpillar, Boeing, ConocoPhillips and other
Asia: optimists, Reply!
In Ukraine the number of controlling bodies will be reduced by half?
Britain to save the bankers and pensioners
Consumers gradually purchased from the market had fallen heavily paper - Rosneft, LUKOIL
News von neutral, so the inertia of Russia”s market is now closed in positive territory
In a neutral external background, Russia”s stock market may continue to move upward
Forex: Market awaits Fed comments
Important news from the U.S. will make their adjustments in the dynamics of world stock and commodity markets
