Dynamics

On Tuesday 18 August, at the tender quotes for precious metals have shown a slight upward trend due to the fall of the dollar in the FOREX market because of favorable economic data release, as well as strengthening the position of the neighboring markets.

As a result of trades on the COMEX, division New York commodity exchange (NYMEX) quotes for gold rose by 3.40 to 939.20 dollars per troy ounce, the price of silver fell 1 cent to 13.99 dollars per ounce.

Causes

On Tuesday 18 August, bids for the precious metals market is mainly taken place in the side band. The background for this fall in the dollar on the currency market FOREX. Macro-economic data raised the level of demand for energy, which in turn supported by the quotations of precious metals. From the news it may be noted that the Canadian company plans to Minefinders that sales of its Mexican mines Dolores in the second half of 2009 will increase to 50-60 thousand troy ounces of gold and 1,2-1,3 million troy ounces of silver. At the end of the year will be sold around 85-95 thousand troy ounces of yellow metal and 1,8-1,9 million troy ounces of silver. Currently on a project feasibility study, which will help to fully appreciate it. The results should be ready by the end of 2009 By 2011, the company plans to build on the Dolores GOK. Dolores is the only operating mine Minefinders. Commercial production volumes it has been made in May 2009, According to the plan of development of mines within 15 years, it must be produced 1.7 million troy of gold and 64 million troy ounces of silver.

What to expect?

The main positive factor for the precious metals market is the technical picture, which shows the output indicators from the pereprodannosti and the effect of current levels of support. For the benefit of growth is also said rumors that the fixation of the market gains on short positions almost finished, and many consider the data sufficiently attractive levels to open new long positions.

What is fear?

negative on the market of precious metals comes from the currency market FOREX, namely, the possible strengthening of the dollar due to economic output makrostatistiki, as well as the opportunity to commit further gains market participants.

The Middle East at an impasse: all are waiting for Obama
In Kharkov arrested estate bank Nadra
AMCU filed charges of unjustified increase in prices for sugar from the bulk of operators
Today, paper is not the oil sector played an increase in prices for energy futures, being leaders in a negative market dynamics
To further encourage the Russian market action tomorrow on applications for unemployment benefits in the United States
Blue chips today ottorgovalis raznonapravleno: the leaders of growth left the paper Gazprom oil (2.33%), Rostelecom (1.25%), the Savings Bank (1.47%)
Mahmoud Ahmadi-Nejad gives the appearance of establishing relations with the West
The state will place the private sector in the capital markets
Minenergetiki United States: Oil reserves in the country, from 8 to 14 August fell by 2.4% - up to 343.6 million barrels