TeleTrade - Analytics


    888.00 6.50/10
    63% of positive reviews

    06.07.2016 15:36 Gold prices continue to rise today

    06.07.2016 15:36

    Gold prices rose moderately, reaching the highest in more than two years as stock markets and bond yields decline in profitability, some bonds to record lows prompted investors to actively buy safe assets.

    European shares fell, while the yield on 10-year German bonds fell to a record low for a second day, as concerns over the impact of Brexit on economic growth embraced global markets and strengthened demand for safe bonds. "On the market returns panic This is reflected not only on the value of gold, but also in the stock markets.", - Said an analyst at LBBW Torsten Proettel. - Bonds are in the red, and big investors are looking for any opportunity to avoid negative interest rates. Since gold may be more interesting to them. "

    Experts point out that the rise in price of gold goes along with the strengthening of the US dollar, as it has happened before in times of elevated levels of risk aversion. However, the pound fell to a new 31-year low against the dollar.

    The course of trading was also affected by expectations on the FOMC minutes. Investors hope that the protocols will contain clues about the timing of further increases in interest rates. Recall, the increase in rates usually strengthens the dollar and gold prices which are denominated in US currency becomes more expensive for holders of other currencies.

    The assets of the world's largest gold exchange-traded fund SPDR Gold Shares rose yesterday at the fastest pace in more than six years. Inventories increased by 28.8 tons to 982.72 tons, the highest level since June 2013.


    The cost of the August gold futures on the COMEX rose to $ 1370.1 per ounce.



    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree