empty
 
 
22.05.2020 04:48 PM
Precious metals found support

This image is no longer relevant

The precious metals market has experienced positive dynamics today against the backdrop of the conflict that is growing between the United States of America and China. Investors were under pressure and decided to turn to a safer sector which is the gold market. However, today's support, most likely, will not save the precious metal from falling in the weekly indicator. Recall that during the current week, gold was under serious pressure from positive statistics on the growth of key economic indicators, which in turn followed the lifting of quarantine measures related to the COVID-19 pandemic.

This morning, on the trading floors, the price of gold rose by 0.84% and reached the level of $ 1,736.45 per troy ounce. However, yesterday it closed with a loss of 1.4%, which, of course, has not yet been compensated for today. The metal support level was at $ 1,715.30 per troy ounce, and the resistance level was at $ 1,775.80, respectively.

Nevertheless, fundamental indicators continue to provide good support to gold. So, an increase in production activity began to be recorded in the European countries, as well as the US. Yesterday's PMI data were higher than the previous ones.

The tension between the world's largest economies, the United States and China, adds fuel to the fire. As the conflict escalates, the price of precious metals will increase, because market participants in such an uncertain situation will want to preserve their assets.

Other precious metals at today's auction so far showed multidirectional dynamics. Thus, silver futures for July delivery rose in price at Asian trading by 0.63%, which allowed the precious metal to gain a foothold at around 17.473 dollars per troy ounce. This is contrary to what happened in European trading which slowed down by 0.25% and began to cost 17.02 dollars per troy ounce.

Palladium also reduces its value by 1.91% and falls to the mark of 1 975.06 dollars per ounce.

The price of platinum creeps down 0.6%, which pushes it to the level of 827.41 dollars.

Copper futures for July delivery are also negative with value reduced to $ 2,377 per pound, indicating a decrease of 2.26%.

Maria Shablon,
Especialista em análise na InstaForex
© 2007-2024
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $1000 mais!
    Em Abril nós sorteamos $1000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 100%
    Sua oportunidade única de receber um bônus de 100% em seu depósito
    RECEBA O BÔNUS
  • Bônus de 55%
    Solicite um bônus de 55% em cada depósito
    RECEBA O BÔNUS
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback