Archive for August, 2012

Gold Hits Highest Price Since May

Wednesday, August 22nd, 2012

Gold and silver bullionOn Wednesday gold hit $1,650 an ounce for the first time since the beginning of May, reaching a high of $1655.50, before settling down to £1640.50 before the end of session.

The gold price was unchanged for most of the session before the minutes from the US Federal Reserve were released, which suggested the central bank was ready for another round of monetary stimulus in the near future.

Many investors are assuming that whatever tools are used to stimulate economic growth, they are likely to be bullish for the gold market.

Federal Reserve and ECB stimulation on Crude oil trading

Saturday, August 4th, 2012

Crude oil barrel and US DollarCrude oil prices fell earlier this week, but picked up slightly at the end as stimulation from the Federal Reserve and the European Central Bank (ECB) increased confidence in the market. Furthermore, a fall in the value of the US dollar made the oil cheaper for countries using other currencies, which also contributed to the rise in price.