The Gold went very bullish and saw a spike above 980$.
Here is a video about the move:
Posts Tagged with ‘gold’
August 3, 2009 - Daily Forex Tips – August 3rd 2009
Crude Oil and Gold Continue to Rise
In accordance to the Dollar's depreciation, the commodities' value rises, especially Crude Oil and Gold.[caption id="attachment_1801" align="alignright" width="293" caption="Daily Forex Tips"][/caption]
An ounce of gold is currently traded for around $955, and a barrel of crude oil is traded for over $70 – near a 1-month high. The rise in oil seems to go hand in hand with the positive publications, especially from the U.S, as they create the impression that demand for energy is likely to rise in the n... ( read more )
Gold Trading Report – April 8th
Review
Gold has seen the steepest decline since mid March, Gold has closed a 6% downfall from April 2nd up until a couple of days ago consolidating at $870/Oz. The downtrend occurred due to the moving of US dollars into the equity market especially the major European stock exchanges and other US dollar backed investment instruments, the decline in demand for Gold in the jewelry market and higher demand for scrap has assisted the downfall.
The uncertainty of global stimulate packages, decline in European and US stocks and relatively low pr... ( read more )
September 29, 2008 - The USD Rebounds Up
After taking a beating last week, the USD is beginning to show some small signs of recovery. Starting the week clouded by uncertainty and straining under market anxiety, the USD sustained blow after blow from the impact of deliberations about a U.S. economic rescue plan, and worse-than-forecasted economic indicators. The verdict is almost out as news from Washington is indicating that a breakthrough was made over the weekend and the bailout package is almost set to be passed into law, giving the U.S. Treasury more authority over the financial w... ( read more )
September 23, 2008 - The USD Falls Sharply
The USD saw a traumatic day of trading yesterday as it stretched as high as 1.48 versus the EUR, and spiked up to 1.8636 against the GBP. This sharp decline in the value of the USD comes from the ongoing financial crisis and the fact that the recent rescue plan has not yet produced enough confidence in the future of the financial sector. Investor uncertainty lingers over the question of whether or not this plan will do the job, especially when many of its details may not get released until later next week. Until then, the USD will continue to b... ( read more )