Dynamics

On Friday, August 7, at the tender quotes for precious metals have continued to demonstrate, in general, downward trends, due to the considerable growth of the American currency on the foreign exchange market FOREX.

As a result of trades on the COMEX, division New York commodity exchange (NYMEX), quotes on gold fell by 3.40 to 959.50 dollars per troy ounce, the price of silver rose 2 cents to 14.66 dollars per ounce.

Causes

On Friday, August 7, bidding in the market of precious metals showed negative trends. The background for this was a significant strengthening of the dollar after better-than-expected data on the number of jobs outside of agriculture United States in July, as well as unemployment. This optimism of market participants, which appeared after the data has led other precious metals stronger. Thus, the September futures on silver, on the basis of bidding closed with an increase.

news can note the decision of American company Tara Gold Resources to focus on the development of the Mexican run Sentenario immediately after beginning work on the project for the extraction of lead, zinc and silver, Don Roman. At the facility had already taken samples of rock, under which the level of salinity is 17 g /t gold, 7% copper and 350 g /t silver. The company expects that Sentenario will significantly enhance the productive capacity of Don Roman. The deposit Sentenario was acquired in January 2009 for $ 2 million. In addition, Tara oversees Mexican projects Kurrita and Yyuvia de Oro, which will soon begin production, but also possesses deposits Pikacho, Las Minitas and Pilar de Mokoribo, which conducted exploration work.

What to expect?

This week is replete with a large number of economic output makrostatistiki, which may show that the economies of countries are still not as good as we would like. However, many market participants will try zahedzhirovat their capital through the gold, thereby supporting the precious metal quotes.

What is fear?

One of the concerns of analysts is a significant increase in the dollar, adversely affecting the market for precious metals, as well as the strong desire of participants to record profits after a successful week.

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