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In quiet times, precious metals get their shine back – Market Overview – December 15

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Miguel A. Rodriguez
Miguel A. Rodriguez
05 novembre 2022
The market continues to show positive movements before starting the vaccination campaign against COVID in the United States, Russia, and soon in Europe.

Investors' bias is clearly in favor of a speedy recovery of the economy, all despite the worrying rebound taking place in much of Europe, where several countries such as Germany warn of possible lockdown if the situation does not improve in the short term.

 

Another factor influencing the positive sentiment of investors is the progress that has taken place in the United States for the approval of the fiscal stimulus package. All declarations suggest that it will be implemented before the holiday closing.

Although the amount is significantly less than what was negotiated before the elections, 700 billion dollars is discussed. Its approval would mean essential support for domestic economies and companies, with financial problems derived from the epidemic crisis.

 

The stock markets keep fluctuating in the high zone reached in recent days. After a week of declines due to technical corrections, the US indices have started this week with slight but sustained gains awaiting a catalyst to help them break the recent all-time highs.

This impetus could come after the stimulus package's approval and / or by the Federal Reserve with new monetary stimulus measures in the morning when its monetary policy committee meets.

 

 

The Commodity Market

 

Currencies are virtually unchanged from yesterday after the British pound rally fueled better expectations regarding negotiations for a deal Brexit.

 

While waiting for the Federal Reserve meeting tomorrow and given the possibility that they will increase their asset purchase program, the treasuries experience slight falls in their yields, with a 10-year bond below the 0.90% zone, which has served to support metals such as Gold and Silver that were in a lateral movement after a downward correction.

 

Real interest rates negatively correlate with precious metals as these are considered an investment alternative and a hedge against inflation.

 

Gold has rallied strongly today from yesterday's lows in the $1829 zone and is near the main resistance level in $1848.

Above this resistance, it is making its way to previous highs around $1872. The weakness of the dollar is another factor that influences the purchase of gold by investors.

Silver, which has a high positive correlation with gold and whose fundamentals are similar, has also had comparable behavior.

Technically, it has managed to break up the resistance level of $24.23, although, for the moment, it has rejected it, and above this resistance, it has a freeway towards the $24.74 area.

Higher up are the primary resistances in the $25.00 and $25.90 area. In the short term, everything will depend on the decisions that the Federal Reserve may make tomorrow regarding its monetary policy and the evolution of the US dollar price.

 

Le informazioni contenute nel presente documento sono redatte da CAPEX.com/it e non costituiscono né devono essere interpretate come suggerimenti di investimento. Le informazioni di cui al presente documento costituiscono comunicazioni di marketing generali a scopo informativo e, in quanto tali, non sono state preparate nel rispetto dei requisiti di legge che promuovono le ricerche di investimento indipendenti. Inoltre, non sono soggette ad alcuna limitazione sulle transazioni condotte in anticipo rispetto alla divulgazione delle ricerche di investimento in questione.Gli utenti / lettori non dovrebbero fare affidamento esclusivamente sulle informazioni qui presentate e dovrebbero fare le proprie ricerche / analisi anche leggendo la ricerca reale sottostante.  Il contenuto è generico e non tiene conto di circostanze personali individuali, esperienza di investimento o situazione finanziaria attuale.Pertanto, Key Way Investments Ltd non accetta alcuna responsabilità per eventuali perdite di trader a causa dell'uso e del contenuto delle informazioni presentate nel presente documento. Le prestazioni passate e le previsioni non sono un indicatore affidabile dei risultati futuri.

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel ha lavorato per importanti istituzioni finanziarie, come Banco Santander e Banco Central-Hispano. È autore di libri sul trading di valuta con diverse pubblicazioni alle spalle.

I CFD sono strumenti complessi e presentano un rischio elevato di perdere denaro rapidamente a causa della leva finanziaria. Il 69.69% dei conti degli investitori retail perde denaro quando fa trading su CFD con questo fornitore. Considera se comprendi il funzionamento dei CFD e se puoi permetterti di correre il rischio elevato di perdere i tuoi soldi.