Another loss week is coming to an end with the yellow precious metal. So far, the minus amounts to 0.9 percent.
Despite various crises, the crisis protection gold remains “out”. While the chart technical situation can be described as particularly bleak, the fundamental situation looks less problematic.
Risks such as the looming international trade war, the imminent end of the federal government and uncertain developments in particularly debt-ridden Italy are so far completely ignored. Now the market players are waiting eagerly for the Commitments of Traders report of the US supervisory authority CFTC (21.30 clock).
Continue reading “Gold: With stable tendency into the weekend”
Following the presentation of mixed US economic data, the gold price reacted relatively “coolly”.
Already in the morning turned the gold price after a stable start back into the loss zone and continues to labor on a bottoming in the range of $ 1,285. In the weekly initial claims for US unemployment assistance, the number of 222,000 was slightly higher than expected. On the other hand, the economic outlook for the Philadelphia Fed saw a positive surprise. Instead of a forecast decline from 23.2 to 21.0 meters, a value of 34.4 points was reported. As both indicators did not show a consistent trend, the gold price reaction was relatively moderate.
On Thursday afternoon, the gold price presented itself with yielding prices. Until around 3:00 pm (CEST), the most actively traded futures contractedGold (June) at $ 2.50 to $ 1,289.00 a troy ounce.
Crude oil: Brent “cracks” $ 80 mark
Continue reading “Gold: US economic indicators no effect”