Friday oil prices push gold higher
Friday, New York, gold (186, -0.04, -0.02%, right) futures prices rose nearly 3 percent, to close at more than 870 U.S. dollars an ounce. By crude oil futures prices rose sharply and the decline in retail sales, such as news, investors preferred to raise hedge, gold prices push higher.
Affected by the Christmas holiday, Friday gold futures market volume was light. Trading was most active on the New York Mercantile Exchange, February delivery gold futures contract rose 23.20 U.S. dollars, or 2.7 percent, to close at 871.20 U.S. dollars an ounce.
Friday afternoon, crude oil futures prices rose 5.4 percent, the price break through 37 U.S. dollars a barrel. Before trading day of a 9.3 percent drop in oil prices. Rising oil prices lead to increased inflationary pressures, increased market demand for gold as an investment tool in the fight against inflation interest.
U.S. retailers to take aggressive price promotions on the gold market today, obviously played a role. Friday's SpendingPulse MasterCard International Organization report released by the department showed that, excluding car sales, excluding, in November this year, U.S. retail sales over the same period last year, a decrease of 5.5%; in December before Christmas Eve to Christmas sales year-on-year decrease of 8% .
GoldForecaster.com Web site editor Julian - Phillips (Julian Phillips) said, "As more and more bad news impact of the financial markets, including retail and other industries have felt the impact of the price of gold also showed long-term The rising trend. "
December delivery gold contract will expire on December 29, and Friday the price of futures contracts also rose to close at 870.40 U.S. dollars an ounce. According to information provided by the Comex institutions, as of this week, five in December contracts outstanding amount of (Open interest) - that is, is still to stay in the market, the market price changes affect the amount of the contract - for 212 hands, that is, 21,200 Ounces.
According to the Comex agency published the latest data, as of three this week, the agency's supply of gold futures for 2,832,883 ounces, more than the previous trading day decreased by 100 ounces.
Friday in the foreign exchange market, the dollar fell against the euro exchange rate, exchange rate against the pound sterling and the yen rose. Eastern time Friday 14:13 (Beijing time on December 27 03 points, 13 points), tracking U.S. dollar trade-weighted basket of major currencies, the dollar exchange rate the performance index (DXY) rose 0.1 percent. Generally, the price of gold and the dollar to the contrary.
It was the world's largest gold-stock index fund SPDR Gold Trust (GLD) to the data provided by the agency this week, three positions still held by the 775.33 tons of gold, unchanged from the previous trading day, over the past month, an increase of 20 tons. U.S. stock market Friday afternoon trading, SPDR Gold Trust shares rose 2.5 percent, reported 85.51 U.S. dollars.
Friday afternoon, spot gold trading for large-scale gold spot trading between the base price of London gold price fixing (London gold-fixing price) reported 836.75 U.S. dollars an ounce higher than Tuesday afternoon, down 6.75 U.S. dollars.
Other metals futures, the New York Mercantile Exchange for delivery in March silver futures prices rose 1.7 percent to close at 10.53 U.S. dollars an ounce. January delivery platinum futures prices rose 3.6 percent to close at 890.20 U.S. dollars an ounce. March palladium futures delivery rose 0.6 percent to close at 176 U.S. dollars an ounce.
March delivery of copper futures prices rose 2.3 percent to close at 1.3035 U.S. dollars per pound.
Friday, New York, gold (186, -0.04, -0.02%, right) futures prices rose nearly 3 percent, to close at more than 870 U.S. dollars an ounce. By crude oil futures prices rose sharply and the decline in retail sales, such as news, investors preferred to raise hedge, gold prices push higher.
Affected by the Christmas holiday, Friday gold futures market volume was light. Trading was most active on the New York Mercantile Exchange, February delivery gold futures contract rose 23.20 U.S. dollars, or 2.7 percent, to close at 871.20 U.S. dollars an ounce.
Friday afternoon, crude oil futures prices rose 5.4 percent, the price break through 37 U.S. dollars a barrel. Before trading day of a 9.3 percent drop in oil prices. Rising oil prices lead to increased inflationary pressures, increased market demand for gold as an investment tool in the fight against inflation interest.
U.S. retailers to take aggressive price promotions on the gold market today, obviously played a role. Friday's SpendingPulse MasterCard International Organization report released by the department showed that, excluding car sales, excluding, in November this year, U.S. retail sales over the same period last year, a decrease of 5.5%; in December before Christmas Eve to Christmas sales year-on-year decrease of 8% .
GoldForecaster.com Web site editor Julian - Phillips (Julian Phillips) said, "As more and more bad news impact of the financial markets, including retail and other industries have felt the impact of the price of gold also showed long-term The rising trend. "
December delivery gold contract will expire on December 29, and Friday the price of futures contracts also rose to close at 870.40 U.S. dollars an ounce. According to information provided by the Comex institutions, as of this week, five in December contracts outstanding amount of (Open interest) - that is, is still to stay in the market, the market price changes affect the amount of the contract - for 212 hands, that is, 21,200 Ounces.
According to the Comex agency published the latest data, as of three this week, the agency's supply of gold futures for 2,832,883 ounces, more than the previous trading day decreased by 100 ounces.
Friday in the foreign exchange market, the dollar fell against the euro exchange rate, exchange rate against the pound sterling and the yen rose. Eastern time Friday 14:13 (Beijing time on December 27 03 points, 13 points), tracking U.S. dollar trade-weighted basket of major currencies, the dollar exchange rate the performance index (DXY) rose 0.1 percent. Generally, the price of gold and the dollar to the contrary.
It was the world's largest gold-stock index fund SPDR Gold Trust (GLD) to the data provided by the agency this week, three positions still held by the 775.33 tons of gold, unchanged from the previous trading day, over the past month, an increase of 20 tons. U.S. stock market Friday afternoon trading, SPDR Gold Trust shares rose 2.5 percent, reported 85.51 U.S. dollars.
Friday afternoon, spot gold trading for large-scale gold spot trading between the base price of London gold price fixing (London gold-fixing price) reported 836.75 U.S. dollars an ounce higher than Tuesday afternoon, down 6.75 U.S. dollars.
Other metals futures, the New York Mercantile Exchange for delivery in March silver futures prices rose 1.7 percent to close at 10.53 U.S. dollars an ounce. January delivery platinum futures prices rose 3.6 percent to close at 890.20 U.S. dollars an ounce. March palladium futures delivery rose 0.6 percent to close at 176 U.S. dollars an ounce.
March delivery of copper futures prices rose 2.3 percent to close at 1.3035 U.S. dollars per pound.
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