wrapper

Gold markets recovered

Monday, Jun 13 2016
Gold continued to shine brightly this past week leading into the Federal Reserve meeting ending on Wednesday afternoon with a press conference by Janet Yellen detailing the Fed decision. Gold closed the week at 1276.60 with a gain again on Friday, which surprised markets after gold dipped on the stronger US dollar Friday morning. Silver soared to 17.34 seeing a gain of 72 points at the end of the week. Platinum continued to diverge from precious metals to fall $10 to trade at 993.60. A number of analysts have become more bullish and believe gold will continue to rise. 
“As long as we continue to see the tailwind from falling bond yields, from Brexit worries and from a dollar which has been under a bit of pressure again, gold and silver will continue to perform,” said Ole Hansen, head of commodity strategy at Saxo bank. Hansen added that he thought it was possible for gold to break the $1,300 mark, while silver could also jump over to more than $18. Commerzbank also rode the gold train this week, claiming higher risk aversion was driving the gold price.
  
Euro is currently being traded few points above 1.1280 level, Sterling is around 1.4250 handle, while Aussie is at 0.74 area.
 
Source: FxEmpire.com
More in this category: « Sterling under pressure due to Brexit concerns NAB Business Confidence eased to +3 index points in May »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.