A Request for a Safe Haven!
Consumer spending around the globe remains weak, despite the demand improving in china, with some signs of improvement within industrial sectors in it; however, no one can really predict if demand has really improved and inclined. On the flip side, economic fundamentals point to major economies dealing with internal problems, despite of the overall improvement appearing on the economy from the outside. The return of growth in the GDP could be a sign of improvement within economic sectors linked to spending, where we witness jobs data released from the
Yesterday; precious metals inclined overall, where gold inclined 1.61% to stabilize in trading at levels $1007.70 in New York's close; whereas, silver witnessed a sharp incline, forcing it to close at level $16.62 with an incline 3.04%; platinum inclined 2.13% to stabilize in trading at levels $1296.00 per ounce in New York, thus ending the third quarter of this year on an evident incline on precious metal prices.
Yesterday's trading witnessed a major increase, affected by outer elements that are represented by the increase inoil price and the decrease of the U.S. dollar's exchange rate. However, if yesterday's precious metal incline told us anything, it is that there is demand on metals as a safe haven, where the decrease in prices is being taken advantage of to reorganize its purse or hedges.
Asian trades leaned towards a decline in precious metal prices today, but this decrease should not be considered as a downward correction following a major hike that occurred in yesterday's trading. Gold has declined in
Main commodity indices increased in yesterday's trading; where stock indexes' yesterday trades in
From here, we see that vigilance is still ravaging financial markets, even though investors are currently heading towards purses and creating reserves from precious metals; to face the current situation of uncertainty and being unsure of recovery's truth and doubt that the global economy is facing, whether the global economy is to stabilize in the upcoming period. However, trading might continue fluctuating on precious metals, where we also see correctional waves at the same time as we do not witness any change on the ascending medium term. On the intraday basis and short term; their fluctuation is overshadowing the situation, especially as we await