About gold nuggets.
Gold Price: negative start to the week
Ahead of the meeting of European finance ministers in Luxembourg shows the yellow precious metal with weaker prices.
The argument of "safe haven" has lost some traction and gold follows the stock markets and other commodities on their way down. In the last week of trading by investors and speculators prevailed both in the futures markets as well as in the ETF sector buying mood. According to data collection, the news agency Bloomberg, the amount of gold held physically secured gold products increased by 24.2 to a record value of 2569.586 tons. The trend of today is likely to be influenced primarily political. Should the market players from EU finance ministers meeting show disappointed, it should go to the euro and thus the price of gold in deeper regions. Chart from a technical perspective runs the next support zone in the range of $ 1,760, and the next at $ 1,730. It will be interesting, in which area the bargain hunters will have access again. Since July fell correction phases relatively modest.
On Monday afternoon, the gold price quotations presented with perforated. To about 15.00 clock (EST) are reduced to the most actively traded futures contract on gold (December) to 8.90. At $ 1,771.90 per troy ounce
Crude Oil: Descent continues
On the energy markets, the sentiment remains very negative. The concern about global economic conditions, combined with reports of increased promotional activities pushed the price of fossil fuels in the deeper regions. Especially the Chinese are currently up to its reputation as a global economic powerhouse is not just. In the futures markets can be the negative sentiment, especially in the declining net long post read ion (optimistic market expectations) of the speculative market players. These were according to the current COT report to the lowest level since mid-August.
On Monday afternoon, the oil price presented with falling prices. To about 15.00 clock (EST) is the discounted due next WTI contract 1472auf to $ 88.46, while its counterpart on Brent by 0.63 dropped to $ 111.39.
