Gold shows negative correlation with USD

Note: This section contains information in English only.
Source: Forexpros
© Scanpix/Reuters

The USD mainly declined against the major currencies; the dollar index lost 0.4% to 79.08 while gold futures added 0.25% to USD 1, 718.75 a troy ounce. The move was in line with expectations as gold prices typically fluctuate inversely to the greenback's value because the yellow metal becomes less expensive for other currency holders.

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Wed, 30 Nov 2011 12:52:23 GMT

Copper prices may boost on the possible supply shortage

Ongoing strikes in the mines producing copper coupled with rising concerns over political clashes in Congo, the second largest copper producer, add to the probability of copper deficit in the next year. Currently copper prices are weak due to pessimistic economic outlook; however, decreasing supply of the raw metal may lead to a highly bullish sentiment on the market. At the moment copper is trading

Wed, 30 Nov 2011 13:09:46 GMT

Gold futures fluctuate above USD 1,700 an ounce

Gold futures experienced slight fluctuations on Tuesday remaining above psychologically significant level of USD 1,700-an-ounce as investors were affected by the developments in the EU like meeting of euro-zone finance ministers and successful Italian auction. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery achieved USD 1,718.75 a troy ounce at the U.S. early trade, adding 0.25% since opening.

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