XEMarkets ₤8500 Forex Demo Contest
for LSE Students
Gold Soars Close to 1700
The market was relatively quiet week with only second tier economic data released. Fed Chairman Ben Bernanke’s speech drove little reaction as investors turned the focus to Japanese policymakers’ intention in further monetary easing. Japanese yen plunged to the lowest level in 2.5 years ahead of the BOJ meeting next week. In China, economic data for 4Q12 signaled that the country’s economy bolds well, raising confidence for this largest growth driver in the world.
Precious Metals: Silver price gained more than +5% last week. Industrial demand is expected to remain the drive for the metal’s firmness in coming months. On the whole, it was PGM metals that had led the rally in the precious metal complex. Anglo American Platinum proposed to close 2 of its mines in South Africa. While the impacts on supply are expected to be less severe than suggested by the news headlines, the closure would remove14000 jobs from the employment market. This has also triggered strikes by labor unions. By rising to 1700, platinum has regained its premium over gold which it has lost since the second half of the year.
XEMarkets ₤8500 Forex Demo Contest
for LSE Students
Gold Soars Close to 1700
The market was relatively quiet week with only second tier economic data released. Fed Chairman Ben Bernanke’s speech drove little reaction as investors turned the focus to Japanese policymakers’ intention in further monetary easing. Japanese yen plunged to the lowest level in 2.5 years ahead of the BOJ meeting next week. In China, economic data for 4Q12 signaled that the country’s economy bolds well, raising confidence for this largest growth driver in the world.
Precious Metals: Silver price gained more than +5% last week. Industrial demand is expected to remain the drive for the metal’s firmness in coming months. On the whole, it was PGM metals that had led the rally in the precious metal complex. Anglo American Platinum proposed to close 2 of its mines in South Africa. While the impacts on supply are expected to be less severe than suggested by the news headlines, the closure would remove14000 jobs from the employment market. This has also triggered strikes by labor unions. By rising to 1700, platinum has regained its premium over gold which it has lost since the second half of the year.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
