Precious metal futures kicked off Wednesday morning with slight slippage as anti-government protests continued in the Middle East and economic data demonstrated the economy in China is continuing its rapid growth, Bloomberg reports.
Demonstrators resumed gathering in Yemen for a sixth straight day to force the removal of Ali Abdullah Saleh, the nation's leader for the past 32 years. Protestors continued opposition to Muammar Qadaffi, Libya's leader since leading a military coup in 1969.
"Tensions in the Middle East will continue to be an issue," according to Tom Pawlicki, a Chicago-based MF Global analyst who wrote a report on Wednesday.
Just before 9 a.m. on Wednesday, gold futures slightly slipped 0.11 percent, a $1.50 cent drop to $1,372.6 per troy ounce. Silver futures slipped 0.20 percent, a 0.061 drop to $30.635 per troy ounce. April-delivery platinum dropped 0.60 to $1,831 per troy ounce and March-delivery palladium increased 0.60 cents to $840.50 per troy ounce.
Chinese government projections were surpassed for the fourth straight month in January, when consumer prices increased 4.9 percent.
Less than one week after 18 days of anti-government demonstrations in Egypt sacked the North African Arab nation's 30-year autocrat, the protests in Yemen and Libya also are calling for the removal of their nations' rulers.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.