A Request for a Safe Haven!

Despite the incline incrude oilwitnessed yesterday, we still find gold inclining noticeably; where the expected rise was surpassed by a similar risein crude's barrel price, if we look at the effect of crude's price incline having an overall effect over gold. However, the U.S. dollar's exchange rate declined in yesterday's trading, which could cause gold and other precious metal's prices to incline. On the other hand, we see the U.S. dollar's exchange rate returned to incline in a major way against numerous foreign currencies, which did not include gold's price returning to decline towards lower levels for yesterday, on the contrary, we saw that gold stabilized at levels above $1000 per ounce throughout this morning trading.

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 U.S. economy; pointing to the negative pressures consumers are facing, consequently affecting spending.

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 Asia today, but at precisely 02:32 EST, we see that it is trading at level $1003.80; silver is trading at level $16.51; whereas, platinum is trading at levels $1287.00, thus making overall trading for today and yesterday to the upside; pointing out that demand has returned to appear in precious metal markets.

Main commodity indices increased in yesterday's trading; where stock indexes' yesterday trades in New York were negative, also including Asia as well. In addition, European stocks are leaning towards a decline in yesterdays trading; appearing on the main stock indices around the globe.

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 U.S. jobs fundamentals.