Gold maintains its gains in light of the global economic data variation 2/21/2016
Gold maintains its gains in light of the global economic data variation
2/21/2016 0 Comments
Gold maintained its gains last week stable above $ 1230, taking advantage of the weakness of the economic results Albaanat issued last week.
Supported gold gains Purchases individuals and companies that have emerged from the beginning of the month of February.
Economic Albaanat issued last week to reduce the gold rises did not intercede Despite the strength of the source of their issuance and attached a lot of hopes on them.
These data must began a speech the President of the European Central "Mario Draghi," followed by the results of the US Federal Minutes and other major oil producers meeting in Doha, next to a lot of other economic data, which were similar in their entirety final distance from the positive and increasing investors sought safe havens.
Gold benefited from the uncertainty case that seized markets and instability, and more than once climbed above $ 1230 and did not stand much below $ 1200, as was expected, because many keen to buy whenever prices fall.The ounce of gold ended the trading session NYMEX New York Stock Exchange at $ 1231, far behind the $ 19 for the opening prices.
And moving projections about the resistance of $ 1249 and then to $ 1269 in the coming days was unimpressed gold much out correction and profit taking, because the current procurement cases going to the goals of a safe haven and no goals to turn a profit, especially in light of weak economic growth in all markets, not East Asia only, as the inflation rates have become far from analysts' expectations and always be gold and hand liquidity in the event of uncertainty and loss of appetite for risk.
Gold silver accompanied in maintaining the gains are larger, because silver has always strongly influenced by profit-taking Baalmyat electronic trading. This did not appear strongly in the past few weeks because everyone keeps the possession of the white metal.
Silver and exceeded the level of $ 16, the coming days will not be ruled out in light of the strong purchases expected for silver from industrial markets by goldsmiths markets Wi purchases at the current level can reap the profits in short periods of time.
The rest of the precious metals did not accompany the gold and silver in the ups and affected by weak demand and correction operations, in particular, and it has achieved great heights in the past weeks. It was natural that the retreating slightly last week.
This palladium fell nearly $ 19 from its opening price and ended trading at $ 500, as well as the dollar platinum and one of the prices opened and closed at the level of $ 946.
Local markets characterized her calm in the beginning of the week the impact of the consequences of the oil and currencies fall and increased recovery operations to include the rise of movement of gold, and started a lot of the pioneers of the market to sell the possession of gold and silver end of the week because of the sharp rise in prices and arrived kilogram gold ore to 11,800 dinars.