YEREVAN, August 5. /ARKA/. Last week gold trading was marked by considerable volatility because of a string of important events which could change the mood of investors. The U.S. economic data was inconsistent. The initial assessment of the U.S. GDP level in the second quarter exceeded the expectations of investors, while the news from the labor market was mixed: the unemployment rate fell to 7.4%, but the data on the number of new jobs in the non-agricultural sector disappointed market participants.

Regular meetings of the Federal Reserve and the European Central Bank (ECB) brought no surprises. The American regulator did not revise the interest rates, while purchases of securities n the U.S. still continues in previous levels because of high unemployment level despite the improving situation in the labor market. The ECB also preserved its monetary policy, after Mario Draghi made it clear that the super soft monetary policy will continue for a long time. As a result, after significant fluctuations the price of gold fell by 1.48% to 1310.97 U.S. dollars per troy ounce. The gold dynamics this week could be affected by economic data from the U.S. and the eurozone.

A string of important news is expected this week from China, which can also affect the price of gold, as China is one of the largest consumers of this metal. We would like to remind that Chinese economy has been experiencing a slowdown, so gold market may pay attention to its macro data.

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Gold quotes dropped last week pressured by the concerns of the dealers about quantitative stimulus program’s terms. This asset appeared to show a three-week non-stop negative dynamics

Categories: Analytics, General news, News | Comments Off on Metal market: Gold and Copper prices May down, U.S. federal reserve’s protocols are in limelight

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Gold prices were mostly climbing last week, however, no definite dynamics was reported. The highest increase was demonstrated in the middle of the week after the USA released its macroeconomic statistics which highlighted US economic slowdown. According to the statistics, the U.S. GDP in the first quarter rose by 2.4% whereas last month it was anticipated at 2.5%. Moreover, weaker than expected labor statistics from America drove the investors to calm down around the quantitative stimulus program terms

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The World Gold Council released on Thursday, May 16, the global gold demand and supply statistics. According to the statistics, the global gold demand slipped in the first quarter by 13.05% to 963.0 tons, from a year earlier, and by 18.95%, compared to the previous quarter

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Gold prices were mainly rising last week, however, no stable dynamics was again reported. Physical purchases continued supporting the asset. In addition, mixed macroeconomic statistics of the largest economy and weaker positions of the USD made gold more attractive

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The prices for gold were teetering during the past five trading days amid the curbed activity of investors and concerns around the U.S. budget sequester. In addition, strong USD and no data which could influence the quotes brought up no optimism as well

Categories: Analytics, Economy @en, News | Comments Off on Metal market: Gold and Copper quotes to dive

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Gold prices climbed early last week as investors were getting more reluctant to take risks amid controversial economic records from the US and eurozone as well as renewed concerns around financial and political situation of the latter

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Gold prices slightly tumbled last week as the American regulator published last Thursday its December session protocols. As a result, the quotes of the precious metal reached their week minimum of 1,642.69 USD per troy ounce

Categories: Analytics, News | Comments Off on Metals market: Gold and copper quotes dive amid charles plosser’s statement

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Gold quotes dropped significantly last week amid concerns about “budget breakdown” in the U.S. The price for gold tumbled to the new minimum of 1,635.17 USD per troy ounce recording the lowest result over the last four months

Categories: Analytics, News | Comments Off on Metals Market: Investors disappointed with concerning talks over U.S. budget

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Last week the gold quotes were pressured amid the political battles between the U.S. legislators over the so-called “budget breakdown,” expenditures cuts and tax increases to be embarked early next year

Categories: Analytics, News | Comments Off on Metals market: Risks for gold and copper cost drop touched off by U.S. statistics

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