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7 Oct 2013
Is this gold’s instinctive reaction to failure?
FXstreet.com (Chicago) – Gold trades stronger on the first Monday of October and potentially due to the perpetuation of the US political crisis.
With the Chinese and Australian markets closed on holidays and relatively light data in the agenda, the attention is all focused on the US debates between republicans and democrats who don’t seem ready to wave the white flag. Gold’s price action may be explained by the effective inaction among politicians and Time’s runaway nature ahead of the debt ceiling deadline next October 19th.
Offered at $1,314.80, gold advances 0.37% printing lows at $1,311.50 and lows at $1,315.20. Silver is also up 0.60% and trades at $21.88 registering lows at $21.74 and highs at $21.88. Platinum is 0.45% stronger and finds bids at $1,394.20 with lows at $1,390.80 and highs at $1,394.60. Copper is down 0.15% and is offered at $3.2960 registering lows at $3.2930 and highs at $3.3050. Finally, palladium is back above the $700 level and is offered at $702.10 retracing 0.02% and registering lows at $701.00 and highs at $702.35.
With the Chinese and Australian markets closed on holidays and relatively light data in the agenda, the attention is all focused on the US debates between republicans and democrats who don’t seem ready to wave the white flag. Gold’s price action may be explained by the effective inaction among politicians and Time’s runaway nature ahead of the debt ceiling deadline next October 19th.
Offered at $1,314.80, gold advances 0.37% printing lows at $1,311.50 and lows at $1,315.20. Silver is also up 0.60% and trades at $21.88 registering lows at $21.74 and highs at $21.88. Platinum is 0.45% stronger and finds bids at $1,394.20 with lows at $1,390.80 and highs at $1,394.60. Copper is down 0.15% and is offered at $3.2960 registering lows at $3.2930 and highs at $3.3050. Finally, palladium is back above the $700 level and is offered at $702.10 retracing 0.02% and registering lows at $701.00 and highs at $702.35.