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17 Oct 2013
Gold regains its lost “glitter” on Washington deal
FXstreet.com (Athens) – Gold is trading on the upper level since the kick off of the Asian trading session whilst oil is trading slight downwards, thus the oil versus gold ratio is down as well.
Gold rebounds well above 1305.00 area, oil treads water
Gold is trading immensely upwards on Thursday putting riddles on market participants who might expect that the demand for the ultimate safe haven asset would be limited today after the Washington deal. At the time of writing gold is trading at 1306.57, up 2.04%. One of the reasons that gold is trading upwards today is that the greenback dives due to the fact that uncertainty moves from US Budget deal to forthcoming Fed Rhetoric. Elsewhere, oil prices fall slightly on both sides of Atlantic, i.e. Crude is trading at 101.82, down 0.42%, while Brent is also moving downwards at 110.13, down 0.77%. Briefly, risk-appetite is limited despite the fact that the political circus came in an end, thus, the thus the oil versus gold ratio is down as well.
Gold rebounds well above 1305.00 area, oil treads water
Gold is trading immensely upwards on Thursday putting riddles on market participants who might expect that the demand for the ultimate safe haven asset would be limited today after the Washington deal. At the time of writing gold is trading at 1306.57, up 2.04%. One of the reasons that gold is trading upwards today is that the greenback dives due to the fact that uncertainty moves from US Budget deal to forthcoming Fed Rhetoric. Elsewhere, oil prices fall slightly on both sides of Atlantic, i.e. Crude is trading at 101.82, down 0.42%, while Brent is also moving downwards at 110.13, down 0.77%. Briefly, risk-appetite is limited despite the fact that the political circus came in an end, thus, the thus the oil versus gold ratio is down as well.