Dynamics
Tuesday, August 25 at the tender quotes for gold and silver slightly added to the price on the background of a moderate reduction of quotations on the adjacent markets and stock markets, but also because of weakening U.S. dollar.
As a result of trading on the COMEX, division of the New York Mercantile Exchange (NYMEX) quotes for gold rose by 2.30 to 946.00 dollars per troy ounce, silver prices rose 11 cents to 14.34 dollars per ounce.
Causes
Tuesday, August 25 quotes for precious metals market showed a slight increase in price. Major U.S. stock indices are stable. Support index was published statistics, which proved better than expected. Index of consumer confidence in August rose to 54.1 points from the July value of 46.6. Analysts on average expected growth rate to the level of 47,9. Positive data have also been on an index of real estate prices, which in July rose by 0.5% against forecasts of 0.4%. Favorably on the dynamics of bidding also display a message that President Barack Obama announced his intention to nominate the current head of the U.S. Federal Reserve Ben Bernanke for a second term in office. The dollar, however, regained some lost ground, and stock indexes have declined from highs that may have played a role in the fall of quotations of futures on gold with a maximum.
From news can note that the income of the Peruvian mines Kondestabl owned Canadian company Iberian Minerals, in the 2-m square. this year as a result of production of 59.5 million ounces of silver, 4.41 million ounces of gold and 5.9 tonnes of copper amounted to 25,4 million dollars, helped the modernization of equipment and the introduction of AMS. During 2009-2010. of Kondestabl to be produced 200 thousand ounces of silver a year, 16.8 million ounces of gold per year and 24.5 tons per year of copper. In the company's plans for the current year include the acquisition of two drilling equipment, as well as upgrading the control system and automatic monitoring of the mines. In addition, work is underway to increase production volumes on an ore vein Karina. Iberian Kondestabl acquired a controlling stake in February 2008, the Company also monitors the project for the extraction of copper and polymetallic Aguas Tenidas in Spain, the commercial production of which must be achieved in the 4 square. 2009
What to expect?
Trading volume on the market of precious metals in the quiet summer markets in general remained low. One of the reasons dragmettaly stalled in the range - the unwillingness to make a breakthrough in either direction. The dollar also in some sort of bargaining in the range, albeit with a tendency to decrease. In this case, increasing the probability of exit through the upper limit of the range.
Why worry?
negative on the precious metals market today can bring the stock area and neighboring markets, which may show a negative movement after a big party at the American Economic makrostatistiki session.
Developed countries, one after another to announce the release of the crisis
Index of the Frankfurt Stock Exchange Xetra DAX fell 20.38 points, the index of the London Stock Exchange FTSE 100 fell 13.14 points
From a technical point of view, the market has a strong support level at 1,100 points MICEX Index, which received only a break with a strong external negative
Statistics on stocks of petroleum and petroleum products can seriously affect the dynamics of Russia's market
At 16.00 Moscow time the volume of trading in the market for government securities MICEX amounted to 27.48 billion rubles
This week the dynamics of Forex trading is calm
Ukrprombank interested Swedes, Americans and Russians
Stavniychuk: Discussion of changes to the Constitution does not mean a referendum
Makoekonomicheskie data published today, were better than expected, but even they did not protect the market from correcting