Wednesday, November 25, 2015

investing in gold : Gold squander its gains on the back of geo-political tension ahead of US reports

investing in gold : Extended Gold futures previous session gains during Wednesday's trading, while An upsurge of political concerns between Russia and NATO member Turkey to boost demand for gold as a safe haven.
On the Comex division of the New York Mercantile Exchange, gold futures rose in December delivery rose 1.40 or the equivalent of 0.13%, to trade at $ 1.075.20 per ounce during European morning trade. A day earlier, prices rose $ 7.00, or gain of 0.66%.
News reported that Turkish fighter jets shot down a Russian warplane near the Syrian border after the Turkish airspace violated on Tuesday. However, the Russian Defense Ministry rejected the allegations, saying that the plane had been attacked when she was in Syrian airspace.
In response to the incident, Russian President Vladimir Putin described the shooting down of aircraft accident is a "stab in the back", and warned that there would be serious consequences of this incident on the Russian-Turkish relations.
Investors are turning more often to buy gold as a haven against geopolitical uncertainty.
Despite the gains on Tuesday, metal prices remained precious little more than the lowest price have over five and a half years and during the last week amid mounting expectations that the Federal Reserve will raise interest rates for the first time in nearly a decade in its seminal held during the December 15-16.
Before the Thanksgiving holiday scheduled on Thursday, it will be issuing a series of US economic data later during the session, while in it, including the reins initial jobless applications and personal spending requests and orders for goods Almuammrhombeat new homes.
News released on Tuesday showed the US economy rose more than analysts' expectations in the third quarter, which support the issue of a rate hike next month.
Most Fed officials believe that there is a strong argument to start raising interest rates in the central bank's next scheduled meeting in mid-December / December, as long as US economic data was strong in the coming weeks.
It is supposed to cause expectations for higher interest rates in promoting downward trend for gold, where it will push the precious metal to compete to get investors' money with revenue rising rate hike assets.
The news that the US dollar index, which measures the strength of the dollar against a basket of six currencies fell, from his highest price in eight months, as investors try to profit from the dollar's gains the previous collection before the Thanksgiving holiday scheduled on Thursday.
The US markets will be closed on Thursday due to the Thanksgiving holiday, with work on Friday to be a half-day.
Among the news as well as precious metals, silver futures retreated December / December delivery rose 3.9 cents, or the equivalent of 0.28%, to trade at $ 14.12 an ounce. Recorded price of $ 13.85 per ounce earlier, its lowest price since August / August 2009.
Elsewhere in the metals trade, copper futures contracts recorded for March delivery / March its lowest price on Wednesday, as traders deliberately to collect profits from the sharp rise in the previous session, which came on the back of the dollar's decline.
In spite of the strong gains made by the copper on Tuesday, the red metal prices are still not much higher than the lows recorded during the six months and earlier this week, while burdened expectations of higher interest rates in the United States and a slowdown in global economic growth, particularly in the China, on sentiment.
And lost copper futures more than 10% of its value this month, amid continued fears of a slowdown in the global economy, led by China with the impact of the dollar on the rise in commodity prices.