Gold and silver continued to trade down during last week. Their sharp fall coincided with the depreciation of leading “risk related currencies” such as Euro and Aussie dollar against the USD. Moreover, the ongoing rally of U.S equity markets is also contributing the decline in demand for bullion as an investment. Last week, U.S retail sales edged up by 0.1% during April. On the other hand, Philly Fed index fell…
During the previous weeks the leading “risk related currencies” such as Euro and Aussie dollar tumble down against the USD; commodities prices including gold, silver and oil fell while equity markets rallied. This upcoming week the market volatility might pick up considering the many news items and events that could stir up the markets. Next week several reports, speeches and publications may affect the financial markets. These include: minutes of…
Despite the less than impressive financial news regarding the progress of the U.S economy that came out during last week the equity market continued to rally, while gold and silver prices declined. Last week, the U.S retail sales inched up by 0.1% during April. On the other hand, Philly Fed index decline in May; housing starts sharply fell by 16.5% in April; jobless claims sharply increased by 32k to reach…
The prices of gold and silver fell again yesterday. For gold this was the sixth consecutive business day in which it has declined. For silver it was the third straight day. Their decline coincided with the devaluation of the Euro and Aussie dollar against the USD. Yesterday, several U.S reports were published: The Philly Fed index for May declined; the consumer price index declined again by 0.4% in April; jobless…
Gold and silver tumbled down again during yesterday. Their plunge coincided with the devaluation of the Euro against the USD. Moreover, the ongoing recovery of the equities markets as seen with the rally of the S&P500 index and other indexes may have contributed to the decline in demand for precious metals. Yesterday, several U.S reports came out: PPI declined in April by 0.7% and the core PPI inched up by 0.1%;…
Major commodities were traded again in a mixed trend on the third business day of the week: Brent oil and WTI oil bounced back on Wednesday; natural gas Henry Hub future (short term delivery) rallied again yesterday; silver and gold prices plunged on Wednesday; the Euro also slipped against the USD on Wednesday. On the other hand, several currencies such as the Aussie dollar appreciated against the U.S dollar. Here…
Based on the latest producer price index monthly report, which was published yesterday, the PPI for finished goods sharply fell again by 0.7% in April compared with March’s index. This report serves as an indicator for the changes in the U.S CPI to be published today. This is the second month this year in which the PPI fell. Last month, the PPI fell by 0.6%. On an annual scale, the…
The ongoing tumble in the price of gold in recent weeks has dragged along with it gold related investments such as gold producers stock and the SPDR Gold Shares (NYSEMKT: GLD). Will gold rally from its recent fall? Will gold producers’ stocks recover from their downward trend? Let’s examine the recent developments in the gold market. Is the Demand Going Down? Despite the recent sharp fall in the price of…
Precious metals resumed their downward trend and fell during yesterday. The fall of gold and silver prices coincided with the drop of leading “risk related currencies” such as the Euro and Aussie dollar against the USD. In the equities markets the S&P500 index and other leading indexes rallied. Will gold and silver continue to trade down today? On today’s agenda: Great Britain Claimant Count Change, Bank of England Inflation Report,…
The week started with little movement for both precious metals: the price of gold edged down while silver moderately increased. In the forex markets, the leading “risk related currencies” such as the Euro and Aussie dollar depreciated against the USD. In the equities markets the S&P500 index edged up. Will market volatility rise in the coming days? Yesterday, the U.S retail sales report came out and showed a moderate increase…
