| Global Interest Rates | |||
 Australia |
7.25% | ||
 Canada |
3.5% | ||
 EMU |
4% | ||
 Japan |
0.5% | ||
 Swiss |
2.75% | ||
 England |
5% | ||
 US |
2.25% | ||
Fundamentals
The Gold Coming Back
Today we have a different scene taking place; gold price is rising as well as oil both facing a dollar that has weakened.
Since the beginning of the week, gold has been declining but only today was the yellow precious metal able to re-shine and see a rise in its price thanks to the decline of the dollar. In other words, we could say that gold is earning its role as a hedge against inflation and is looked at as a safe asset that will attract investments once again. Basically this dollar's decrease strongly supported the incline of gold price; gold reached $882.10/883.10 an ounce and gained as much as $3.08.
Oil from its side, being encouraged by the weakened dollar, remained witnessing a rise in its price, recording today another record high by reaching near to $125 a barrel. Always due to the same geopolitical factors that are taking place in two of the biggest oil producers; Nigeria where rebel attacks are still targeting oil facilities and Iran which is still having a bad relation with the West because of its insistence on not backing off from it nuclear plan. These factors will continue on affecting and limiting strongly the oil supply in the international market. Oil as gold is being seen as a hedge against inflation.
Now, the US dollar slipped against most of the major currencies due to the boost of oil prices and because of the European Central Bank and the Bank of England decisions to hold the interest rate steady at 4.0% and 5.0% which made the euro and the British pound pick up against the dollar. This falling dollar gave a big hand to the rebound of gold today.
Fundamental analysis for precious metals gold - 7/24/2008 Today 3:21 AM EST- Fundamental analysis for precious metals gold - 7/23/2008 Jul 23, 2008 3:21AM
- US dollar falls in Europe Jul 22, 2008 7:00AM
- Gold still up... Jul 14, 2008 3:53AM
- The Crude Oil breaks above $140 today Jun 26, 2008 4:17PM
- Gold still up... Jun 23, 2008 3:53AM
- Fundamental analysis for precious metals silver - 7/24/2008 Today 3:21 AM EST
- CHF/USD Fundamental Outlook at 1500 GMT (EST + 0500) Jul 23, 2008 3:38PM
- GBP/USD Fundamental Outlook at 1500 GMT (EST + 0500) Jul 23, 2008 3:36PM
- Existing Homes Sales Today 3:18 AM EST
- Fundamental analysis for precious metals silver - 7/23/2008 Jul 23, 2008 3:21AM
- U.S. Economists Pulled the Trigger Jul 23, 2008 3:18AM
In this topic we are going to review the financial forecast on forex market.
gandycookie
hi guys im new here, hope to learn trading,shares and stocks from you guys.....:) zero_digit
Rpchost.com - Forex Trading Technical Analysis
Rpchost.com 2008/7/8 - 1:00 AM EST
At 4:30 we have DCLG HPI y/y report release and at 8:00 we have Fed Chairman Bernanke Speaks, these reports w... rpchost
Latest Forex Research Reports
Find the most up to date research from leading investment firms to make the most informed investing decisions
Partners  
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives