Gold needs a shake-up
The cost of precious metals on the basis of trading on August 18 in New York mainly decreased. Spot prices were: Gold – 1298.20 USD. / Ounce (-0.56%), silver – 19.68 dollars. / Ounce (0.18%), platinum – 1448.0 USD. / Oz (- 0.96%), palladium – 895.0 USD. / ounce (-0.11%).
As analysts “Raiffeisenbank”, within the EU there is an opinion that following the path of sanctions in resolving conflict Ukrainian unacceptable as a response RF causing heavy damage to an already weak European economy (according to the media, it is possible the imposition of restrictions on the import of the Russian Federation and industrial goods in the event of new sanctions by the USA / EU). “By the way, due to the weak state of the economy, as indicated, in particular, the published data on GDP for the II quarter (for example, the German economy contracted by 0.2% against growth of 0.8% in I quarter), the high demand European banks on the cheap and long liquidity from the ECB is not expected. As a result, to stimulate the economy may begin to control the purchase of assets in the open market “, – said the expert.
While talk about reducing the degree of geopolitical tension is not necessary: in Berlin ended four-party talks between the foreign ministers of Russia, Germany, France and Ukraine have not yielded significant progress (except phrases about the need for a cessation of hostilities in the Ukraine). This week, in addition to geopolitics, the impact on the markets can have a publication of transcripts from the last Fed meeting (currently a flight to quality outweighs the expectations of tighter monetary policy the Fed).
On the “bull” market any of the events is able to toss up quotes. Now players use any burst of activity in order to get out of long positions in the yellow metal. Gold is not enough to reduce the shake faith in the dollar. While the world markets do not, for gold and other precious metals is observed drawdown.
Tuesday at 8:00 MSK gold futures stood at 1,300.71 dollars. / Ounce (0.1%), silver – 19.66 dollars. / Ounce (0.10%), platinum – 1449.30 USD. / ounce (0.21%), palladium – 894.45 USD. / ounce (-0.05%).
