25 Oct 2013
Block roads slowing down metals’ uphill attempt?
FXstreet.com (Chicago) – This week seemed to define different perceptions among market participants whose equity markets sentiments seem to be picking up ahead of more data to be released.
On one hand, poor US results, delayed after the 2-week shutdown that was hours away from a potential global crisis – due to the US debt default – triggered a negative sentiment towards the USD and the country as rumors on QE from the Fed were confirmed. On the other hand, high volatility in the commodities markets, with oil hitting almost 4-month lows, revealed strong reactions to Asian economic results – notably in China and rising stockpiles in the US.
Gold is down 0.49% and trades $0.10 higher than $1,343.60 session lows with highs registered at $1,347.90. Silver declines 0.69% and is offered at $22.67 printing lows at $22.62 and highs at $22.76. Platinum is down 0.39% registering lows at $1,448.40 and highs at $1,453.30. Copper is up 0.12% and is offered at $3.2680 with lows at $3.2620 and lows at $3.2730. Finally, palladium is down 0.10% and trades at $747.05 printing lows at $746.00 and highs at $748.00.
On one hand, poor US results, delayed after the 2-week shutdown that was hours away from a potential global crisis – due to the US debt default – triggered a negative sentiment towards the USD and the country as rumors on QE from the Fed were confirmed. On the other hand, high volatility in the commodities markets, with oil hitting almost 4-month lows, revealed strong reactions to Asian economic results – notably in China and rising stockpiles in the US.
Gold is down 0.49% and trades $0.10 higher than $1,343.60 session lows with highs registered at $1,347.90. Silver declines 0.69% and is offered at $22.67 printing lows at $22.62 and highs at $22.76. Platinum is down 0.39% registering lows at $1,448.40 and highs at $1,453.30. Copper is up 0.12% and is offered at $3.2680 with lows at $3.2620 and lows at $3.2730. Finally, palladium is down 0.10% and trades at $747.05 printing lows at $746.00 and highs at $748.00.