Ready to Get Started?
Start here. Join over 3M Libertex users around the world!
Stock rebound helps gold traders stick a toe back in the water
The rebound in stocks yesterday provided the perfect excuse for Gold to recover more resolutely this time around and the metal lifted above $2,425 after the European close. Gold later closed in the US at $2,427.53. It has not managed to surpass that close much yet today though. The high so far has been set at $2,428.88. There is no doubt that the gain in stocks since this time yesterday has helped the recovery and certainly not forced any further liquidation of any holdings. The interesting thing about the gains seen yesterday, is that they came amid a rise in US yields, but as noted here at the time, that was not a focus for the gold buyers on that occasion. The rebound in stocks eclipsed the usual correlation between the metal and cost of carry. Gold is currently trading at $2,418.30
Market News
All News-
Nasdaq 100 futures on the drift lower just now
Yesterday the tech sector and the Nasdaq 100 did stage a recovery and that saw the index rise after the European close. The Nasdaq 100 rose above 19... -
Important Addendum to the penultimate update on the DAX
This might yet prove to be important by the end of the day, but in the penultimate update on the DAX it was noted the index had tested the record high... -
German ZEW index beats forecasts but not on current conditions- EUR/USD unmoved so far
The March reading of the German ZEW, economic sentiment index has now been released. As noted earlier, it was expected to show a marked improvement...
