Source: ForexYard
Good day for the Bullion market as both gold and silver traded up during Thursday’s trading partially due to a weakening dollar as well as the fact that U.S Stocks are on the rise.
The yellow metal saw gains of 1.2% to reach the level of $1,680 whilst silver also followed with sharp gains.Other metals also made gains during Thursday’s trading including copper,platinum and palladium
When the U.S dollar weakens we tend to see an opposite reaction with Gold as the metal is a dollar-denominated commodity.Silver also has a correlation with the yellow metal and tends to move in similar patterns, and showing similar trends.
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.
