Commodity Blog |
| Precious Metals Show Mixed Performance During Thanksgiving Posted: 22 Nov 2012 01:55 PM PST Gold was little changed today even amid signs of increasing demand from central bank. The trading was thin due to the Thanksgiving holiday in the United States. Silver was also flat, while platinum dropped and palladium advanced. The International Monetary Fund reported that central banks of Russia, Turkey and Kazakhstan increased their gold reserves last month. Brazilian stockpiles swelled to the highest level in more than 11 years. Hopes that Greece will get its bailout at last weakened the dollar, supporting precious metals. Today’s European Union summit did not clear the situation with the indebted country and now traders wait for the next meeting of European finance ministers on November 26. Gold traded at $1,729.51 per troy ounce and silver was at about $33.24 per ounce as of 21:46 GMT on COMEX today. Platinum fell from $1,582.75 to $1580.75 per ounce and palladium was up from $645.70 to $653.90 per ounce. |
| Video: What Moves the Price of Gold? Posted: 22 Nov 2012 11:14 AM PST It is useful for a trader to understand the underlying reasons for price movements. This video explains the most important factors that influence gold. How central banks’ monetary policies affect the precious metal? What is the relation between the Forex market and gold? The video gives answers to such questions.
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