Gold Price
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The Gold Price Crossed Above $1,700 Today and is Still Targeting $1,740 ... The Gold Price Gave Up $6.70 Today Gold Remains in Primary Uptrend.lunes, 10 de septiembre de 2012
domingo, 8 de enero de 2012
Gold and Silver Prices –January Update
Gold price sharply rose on Tuesday by 2.15% to $1,600.5; silver price also followed and sharply inclined by 5.94% to reach $29.57. In the chart below are the normalized gold and silver prices during the past couple of weeks (normalized gold and silver prices to December 14th 2011). During December gold price decreased by 10.5% and silver price by 14.9%.
The ratio between gold and silver prices sharply fell on Tuesday, January 3rd and reached 54.12. During the past couple of weeks the ratio slightly slipped by 1.3% as silver price has outperformed gold price.
U.S. PMI Manufacturing Index Rose to 53.9%
According to the recent U.S. Manufacturing ISM report the U.S. Manufacturing PMI growth rate inclined from 52.7% in November to 53.9% in December. This means that the U.S. manufacturing sector is growing at a higher pace in December compared to November. This news may have helped push up major commodities prices along with the American stock markets.
On Today’s Agenda
Euro Area Inflation: the inflation in Euro Area remained at 3.0% in October, and according the recent flash estimate the inflation rate remained unchanged. If the upcoming inflation rate will rise, it may slightly lower the chances of an additional ECB interest rate reduction;
U.S Factory Orders: This report will examine the changes in U.S. factory orders of manufactured durable goods in November. This report may indirectly signal the changes in U.S. demand for commodities. According to the recent flash report, during November new orders of manufactured durable goods increased by $7.5 billion or 3.8% to $207.0 billion; (for the full report);
Australian Trade Balance: The upcoming report will regard November 2011. In the October report, the seasonally adjusted balance of goods and services sharply fell from a surplus of $2,249 million in September 2011 to $1,595 million in October 2011 – a $654 million decrease. The export of non-monetary gold fell by $197 million (15%); if the gold exports will continue to fall in October, it might suggest a decrease in demand for non-monetary gold that could explain the decline in gold prices (see here last report);
Forex Trading / Gold & Silver Prices – January
The Euro to U.S Dollar started the year with a sharp increase of 0.69% to reach 1.3051; other forex exchange rates such as the Australian dollar also sharply appreciated against the U.S dollar. If major currencies will continue to appreciate against the U.S. dollar, it may also pressure up gold and silver prices.
American Stock Markets / Gold & Silver Prices – January
The S&P500 index sharply rose on Tuesday by 1.55% to 1,277.06. During December, S&P500 index slightly roes by 0.85%. As presented in the chart below, the S&P500 index continues to be strongly and positively correlated to gold prices (during December the linear correlation was 0.681 with gold prices and 0.709 with silver prices), so that if the stock market will continue to rally not only because of the good news presented in the U.S. but also the due to the January effect, it may also indicate that gold and silver prices are likely to follow and rise as well.
The ratio between gold and silver prices sharply fell on Tuesday, January 3rd and reached 54.12. During the past couple of weeks the ratio slightly slipped by 1.3% as silver price has outperformed gold price.
U.S. PMI Manufacturing Index Rose to 53.9%
According to the recent U.S. Manufacturing ISM report the U.S. Manufacturing PMI growth rate inclined from 52.7% in November to 53.9% in December. This means that the U.S. manufacturing sector is growing at a higher pace in December compared to November. This news may have helped push up major commodities prices along with the American stock markets.
On Today’s Agenda
Euro Area Inflation: the inflation in Euro Area remained at 3.0% in October, and according the recent flash estimate the inflation rate remained unchanged. If the upcoming inflation rate will rise, it may slightly lower the chances of an additional ECB interest rate reduction;
U.S Factory Orders: This report will examine the changes in U.S. factory orders of manufactured durable goods in November. This report may indirectly signal the changes in U.S. demand for commodities. According to the recent flash report, during November new orders of manufactured durable goods increased by $7.5 billion or 3.8% to $207.0 billion; (for the full report);
Australian Trade Balance: The upcoming report will regard November 2011. In the October report, the seasonally adjusted balance of goods and services sharply fell from a surplus of $2,249 million in September 2011 to $1,595 million in October 2011 – a $654 million decrease. The export of non-monetary gold fell by $197 million (15%); if the gold exports will continue to fall in October, it might suggest a decrease in demand for non-monetary gold that could explain the decline in gold prices (see here last report);
Forex Trading / Gold & Silver Prices – January
The Euro to U.S Dollar started the year with a sharp increase of 0.69% to reach 1.3051; other forex exchange rates such as the Australian dollar also sharply appreciated against the U.S dollar. If major currencies will continue to appreciate against the U.S. dollar, it may also pressure up gold and silver prices.
American Stock Markets / Gold & Silver Prices – January
The S&P500 index sharply rose on Tuesday by 1.55% to 1,277.06. During December, S&P500 index slightly roes by 0.85%. As presented in the chart below, the S&P500 index continues to be strongly and positively correlated to gold prices (during December the linear correlation was 0.681 with gold prices and 0.709 with silver prices), so that if the stock market will continue to rally not only because of the good news presented in the U.S. but also the due to the January effect, it may also indicate that gold and silver prices are likely to follow and rise as well.
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