The Gold rally on Nov 14 may have looked inviting to Gold bugs, but may be attributed to profit taking!
The gold market should be in demand as a hard currency, but it simply has been pressured by the allocations from investors spreading into the Stock Indexes and many other products. The strength of the US Dollar puts pressure on the gold market while the tapering of the quantitative easing should increase the strength of… Read more.
The common currency of the European Union advanced to its four-week highs against the world’s reserve currency as the European Central Bank convenes its monthly meeting, Bloomberg reports.
The first trading session of the final month of the second quarter of the year began with the shared currency of the European Union advancing against the world’s reserve currency, spurred by stronger than expected economic data, Bloomberg reports.
Gold futures on Tuesday were slumping amid indications that leaders in the debt-hobbled euro zone are set to implement efforts to control the fiscal crisis, according to Bloomberg. Dutch Finance Minister Jeroen Dijsselbloem outlined goals of the banking union project, instilling a measure of confidence that was one factor to draw down demand for the… Read more.
Monday saw the common currency of the European Union come under fire and lose value, according to published reports. In the aftermath of policy makers with the European Central Bank late last week opting to cut borrowing costs by 25 basis points and president Mario Draghi noting the bank is monitoring economic data and prepared… Read more.
Thursday saw the English pound increase in value against the common currency of the European Union as a consequence of economic data noting regional construction was stronger than expected, Bloomberg reports. The monetary unit also was propelled higher by commentary of European Central Bank President Mario Draghi, who noted the institution he leads is open… Read more.
Wednesday saw the shared currency of the European Union slump against the U.S. dollar and the Japanese yen after remarks by a European Central Bank official indicated interest rates might be slashed, according to Bloomberg. The ECB is poised to slash borrowing costs if economic data prompts that move, Jens Weidmann with the governing council… Read more.
The June Gold is going through a short-term bearish cycle which is unusual with the monetary policies in place by the US, Bank of Japan and the European Central Bank. The Gold is stuck in a range still as it needs to penetrate $1620.00 to gain any traction. Traders and investors alike may be allocating… Read more.
Copper futures were gaining in value on Thursday, tracking the upward surge of the shared currency of the European Union, according to The Wall Street Journal. The monetary unit's climb was spurred by the European Central Bank opting against boosting borrowing costs during its Thursday meeting in Frankfurt, Germany. That proved to be disappointing to… Read more.