New York Mercantile Exchange (COMEX) gold futures closed higher Thursday, as strong corporate earnings, indicating brighter economic outlook, increase the investment appeal of gold. COMEX-8-month gold futures closed up 3.80 U.S. dollars GCQ0, 1 ounce , 195.60 U.S. dollars. trading range of 1,180.70 to 1,201.20 dollars an ounce. U.S. heavyweight strong growth in corporate revenue, triggering a variety of assets rebounded, pushing the stock market, gold market and other commodities. gold Friday in Europe bank stress tests results came in early before the increase is limited .6 Since gold stocks were broadly consistent with, the debt due to proliferation concerns receded in Europe, the euro shells. COMEX estimated, the final volume was 143,684 gold mouth.
1901GMT, spot gold XAU = USD 1,195.15 an ounce, USD 1,191.80 reported late the previous day. London afternoon fixing price of gold XAUFIX = USD to 1,199.50. COMEX-9-month closing high 31.70 cents silver SIU0 , or 1.8%, to 18.120 U.S. dollars an ounce, following the gold rally, due to the expected improvement in the demand for industrial metals. trading interval from 17.635 to 18.200 U.S. dollars an ounce. COMEX estimated final volume of silver for the 32,397 population . Spot silver XAG = 18.09 U.S. dollars an ounce, higher than the 17.77 U.S. dollars late the previous day.
New York foreign exchange market:
Euro / dollar rose 1 percent Thursday, as strong euro zone economic data and U.S. corporate performance, rekindling hope for the global economy and boost investor risk appetite. Data showed unexpected strength in manufacturing and services in Europe After growth, the euro rose through 1.29 against the dollar, but Friday the European Bank of stress test results released before the uncertainty of the euro did not probe further on hit 1.30 U.S. dollars over the recent 10-week highs. U.S. stocks rose for, and U.S. Federal Reserve Board (FED, Fed) Chairman Ben Bernanke yesterday described the U.S. economic outlook somber improvement in market sentiment after the yen trimmed gains against the dollar, but fell against other currencies. struggling dollar, weak U.S. economic data due suppressed the market for the Fed to raise interest rates next year. This prompted investors to re-evaluate the expected return on dollar-denominated assets. the United States-year notes US2YT = RR rate of return (yield) earlier this week dropped to a record low of 0.57% lower than the comparable German bond yields. But Thursday showed U.S. existing home sales in June fell 5.1%, down 8.1% less than market expectations, investors feel slightly relieved.
European banks last resort, the banking sector stress testing results will be baked in the final tomorrow morning; parties against this interpretation of financial institutions have different views, but the authors believe that accumulation of Europe because of the debt crisis is easing, but despite from the economic recovery process and future implementation of the euro zone's monetary policy and fiscal expenditure will appear on a tight situation, this is the most current address constraints on future economic development factors; the fundamental problems the euro area and the rigidity of the pressure test concerns will prevent the euro gains momentum. euro rebounded after the end of the round will continue into the pace;
U.S. stocks:
U.S. stocks rose Thursday as investors shake off some of the concerns of economic recovery efforts after 3M, United Parcel Service (priority than speed, UPS), and Caterpillar and other companies announced the good economic benchmark forecast. Weight quarterly business-intensive results after the close today, Microsoft also released quarterly results, shares rose 2.9 percent, after results were released after the bell was little changed. three major stock indexes today, the largest increase in more than two weeks, UPS rose 5.2%, after the company raised profit outlook. The company is seen as a barometer of consumer and business needs. Thursday after data showed that jobless claims last week increased. After strong growth earlier this year, employment growth has slowed drag on household spending and economic recovery.
New York Stock Exchange, American Stock Exchange and the Nasdaq market, the total turnover of around 8.7 billion shares, last year's estimated daily average value of 9.65 billion shares. Up and down the New York Stock Exchange, shares a ratio of about 7:1, Nasdaq, down the number of shares with a ratio of about 5:1.
Traders were also digesting:
U.S. crude oil futures rose more than 3 percent Thursday, to 79 U.S. dollars a barrel over the 11-week high, due to stronger than expected economic data, stock market performance boost, and the market worried about possible threats to Gulf of Mexico tropical cyclone of crude oil production. U.S. dollar against a basket of major currencies and the euro weakness, but also boost oil prices down more than 1% after yesterday's rally. oil futures rose more than 3%. today's trading range was 76.16-79.42 U.S. dollars, which was the highest May 6 . U.S. National Hurricane Center (US National Hurricane Center) Thursday said in the report, the third tropical cyclone formed near the Bahamas, a tropical storm expected to strengthen, but will not form before the hurricane landed. in Gulf of Mexico operations close attention to the energy companies could strengthen as the storm hit the area of tropical cyclones, some companies are removed from the offshore drilling platform staff. by strong corporate performance, better-than-expected data on U.S. housing market and the European manufacturing improvement in industry and service sector activities, global stock markets surged, the euro.
Our technical analysis of a specific month from the oil firm's standing in line for more than 70, 10 and 20 day MA Jin Cha, MACD indicator is still in a strong smoothing higher; believe that gold will continue rising short-term challenge in May The previous high point; this will form an effective short-term support for gold;
Spot Gold Technical Analysis:
Spot gold from 1265 to the recent lowest point since 1175 in the vicinity, for a total decline of 90 dollars; once during the relay rally lasted longer but the intensity and magnitude of rebound is limited; only cause the price of the second bottom; an investment were concerned that since 1175 can support the formation of a strong gold price for the recent evidence is whether 1175 can be defined as a rebound in the low sub-faced gold; answer from the current form of multi-cycle perspective, in particular contour of its Comparison of strong rebound cycle, so a rebound around the corner; Another fact is that 1175 was close to the average price in 2010 locations, there are no accidents, if so, tonight's European banks stress test results will show the pressure of the role of the euro; at this time for Gold's rally is expected to have varying degrees of support; from the assumption that the premise, the analysis shows this month closed on line no doubt Yinxian reported the possibility of a very large collection; it will bring Q3 to suppress the role of gold simple understanding is that next month will continue decline; but longer subject to periodic adjustment in July, from the perspective of time weekly face the possibility of a rebound is also increasing; another argument is that gold will face a longer period to adjust , then the short-term technical secondary will head the search for the establishment of a technical fix, investors should be concerned that once the rebound then the rebound cycle and amplitude; because this action will have on our guide!
Trading Strategy Reference:
Rebound from yesterday and the day closed line situation, short-term momentum is still continuing on the probe; particular lines and 480 minutes 360 minutes Line K Line shape; so the operation in 1190 can do more around, stop 1185; s 1207 goal, the second goal of 1215 in the vicinity;
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