Suche
Mein Konto
Gold price: Third weekly increase possible - investors benefit by 0.1 percent despite a small increase
As economic expert Jörg Bernhard reports, there is a possibility of a third weekly increase in a row for the gold price. However, the increase is currently only 0.1 percent. Typically, the price of gold is more sensitive to factors such as US yields or the dollar, which could cause it to trade lower. However, the ongoing threat of conflagration in the Arab world due to fighting between Israel and Palestinian terrorists creates a strong need for protection among investors. This leads to a relatively high price level close to the $2,000 per troy ounce mark. The current inflation figures from the USA as well as personal income and...
Gold price: Third weekly increase possible - investors benefit by 0.1 percent despite a small increase
As economic expert Jörg Bernhard reports, there is a possibility of a third weekly increase in a row for the gold price. However, the increase is currently only 0.1 percent. Typically, the price of gold is more sensitive to factors such as US yields or the dollar, which could cause it to trade lower. However, the ongoing threat of conflagration in the Arab world due to fighting between Israel and Palestinian terrorists creates a strong need for protection among investors. This leads to a relatively high price level close to the $2,000 per troy ounce mark.
The current inflation figures from the USA as well as personal income and expenses of private households are expected in the afternoon (2:30 p.m.) and could also have an influence on the gold price. The Commitments of Traders report from the US regulator CFTC (9:30 p.m.) is also particularly interesting, as a massive wave of purchases from large futures speculators was reported in the previous week.
According to a report by www.finanzen.net The price of gold remained at $1,996.80 per troy ounce on Friday morning.
There is also a positive trend in terms of oil prices. After the US air strikes on militias loyal to Iran in Syria and the attack on Hamas positions in the Gaza Strip by Israeli tanks, the price of oil rose significantly. Concerns about the spread of the Middle East conflict and possible effects on global oil supplies play a crucial role here. Goldman Sachs states that a 20 percent increase in oil prices would be possible in the event of a blockage of the Strait of Hormuz, but considers this scenario to be relatively unlikely.
The oil price was higher on Friday morning at $84.49 for the next due WTI future and $88.20 for the Brent future.
Further developments for both raw materials depend on current market and geopolitical events as well as inflation figures from the USA and private household income and spending.
Source: According to a report by www.finanzen.net
Read the source article at www.finanzen.net