Dynamics

On Thursday 15 October and results of the auctions quotes for gold and silver have shown downward trends in price against U.S. dollar strengthening against the euro on the foreign exchange market, FOREX, and also dueto technical factors.

As a result of trading on the COMEX, division of the New York Mercantile Exchange (NYMEX), quotes gold futures dropped 14.10 to 1050.60 on the dollar per troy ounce, quotes, silver futures fell 49 cents to 17.42 dollars per ounce.

Causes

On Thursday, October 15 quotes for precious metals market has shown downward trends in price against U.S. dollar strengthening against the euro on the foreign exchange market, FOREX, but also because of technical factors arising from profit-taking by many market participants following the record prices for metals. Silver futures fell after the gold, while the percentage of the price of silver declined by more than a gold, as trading volumes on it less, and this increased the price fluctuations. Only optimistic stock quotes sites kept the precious metals from the strong gravity (up to tender Dow Jones industrial average was 10062.94 (47.08), Nasdaq Composite - 2173.29 (1.06), SP 500 - 1096.56 (4.54)).

What to expect?

According to many analysts and traders, the price of gold may continue to grow and set new records next week against the possible fall of the dollar in the foreign exchange market, FOREX, and also because of the positive trend of the stock markets and adjacent areas.

Why worry?

Many companies manufacturing sector and institutions, giving the gold to rent, possibly today, the precious metals market will increase sales of gold futures amid fears about demand associated primarily with the upcoming holidays.

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