Dynamics
On Thursday 23 July, at the tender quotes for precious metals slightly improved in value against the background of expectations of further easing of dollar optimism in Asia and enhance growth of the stock pads.
As a result of trades on the COMEX, division New York commodity exchange (NYMEX) gold stood at around 954.80 dollars per troy ounce, while silver closed at around 13.77 dollars per ounce.
Causes
On Thursday 23 July to bid on the market witnessed fluctuations in the yellow metal in one, the other side under the influence of changes in the course of American dollar. Supporting the market had quarterly reports of major companies, resulting in an increase in the stock pads, and economic data, which showed that sales of homes on the secondary market of the U.S. in June rose to 4.89 million against 4.72 million in May, while the number of Primary applications for unemployment benefits last week rose up to 554K, while the average forecast of analysts was 550K. From the news, you can mark messages Mirasol Resources on the second phase of exploration drilling in Argentina in the areas of La fool and La Negro. It is noted that the results of the second phase of drilling were better than the first. Thus, in particular in the area of La fool fixed interval of 9.4 m. with the content of 501.1 g /t silver. In the area of La fool was probureno seven diamond drill holes. This zone is dominated by silver, the maximum gold content does not exceed 0.35 g /t. Data on the area of La-Negro company was planning to publish later.
What to expect?
In the coming days are likely to expect a fixed profit on gold after such a spectacular day. However, it was to break the technical level of 950 dollars per troy ounce, which can be a factor in long-term support and a platform for new purchases of physical gold.
What is fear?
But not everything is as good as we would like. Market participants expressed concern about these mutual funds that invest in gold. So reserves SPDR Gold Trust reduced the second consecutive day, falling on 23 July at 5.8 tons to 1086.61 tons. In addition the sale of U.S. gold coins, worth 1 ounce of gold, American Eagle reduced in II quarter to 68 167 units from 114 000 units in the I quarter.
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Analysis - Results of the day
MICEX Index, compared with the value of the close of the previous trading day decreased by 0.548% to 1025.72, paragraph
The index of the Frankfurt Stock Exchange Xetra DAX rose by 11.34 point, the index of the London Stock Exchange FTSE 100 rose 27.91, paragraph
Worse market traded Norilsk nickel and RusGidro, losing 2% and 2.5% respectively
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