We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.25%, while traders in US 500 are at opposite extremes with 71.79%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/eMgB5Ayter
  • Heads Up:🇲🇽 Consumer Confidence (JUN) due at 11:00 GMT (15min) Expected: 45.4 Previous: 42.6 https://www.dailyfx.com/economic-calendar#2020-07-03
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.29% Gold: 0.00% Oil - US Crude: -1.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/qiJaDgGEu9
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.07% 🇦🇺AUD: 0.02% 🇯🇵JPY: -0.01% 🇨🇭CHF: -0.16% 🇪🇺EUR: -0.17% 🇬🇧GBP: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OEgHVYXEu0
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: -0.02% Wall Street: -0.13% Germany 30: -0.36% France 40: -0.76% FTSE 100: -1.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zC3LkhJIO2
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/8hv3bqCeKm https://t.co/cAuGZRy8GI
  • 🇬🇧 Markit/CIPS UK Services PMI Final (JUN) Actual: 47.1 Expected: 47 Previous: 29.0 https://www.dailyfx.com/economic-calendar#2020-07-03
  • 🇬🇧 Markit/CIPS Composite PMI Final (JUN) Actual: 47.7 Expected: 47.6 Previous: 30 https://www.dailyfx.com/economic-calendar#2020-07-03
  • Heads Up:🇬🇧 Markit/CIPS UK Services PMI Final (JUN) due at 08:30 GMT (15min) Expected: 47 Previous: 29.0 https://www.dailyfx.com/economic-calendar#2020-07-03
  • Heads Up:🇬🇧 Markit/CIPS Composite PMI Final (JUN) due at 08:30 GMT (15min) Expected: 47.6 Previous: 30 https://www.dailyfx.com/economic-calendar#2020-07-03
Guest Commentary: Gold and Silver Outlook for 11 23, 2012

Guest Commentary: Gold and Silver Outlook for 11 23, 2012

2012-11-23 13:08:00
Lior Cohen, Commodities Analyst at Trading NRG,,
Share:

The prices of gold and silver remained nearly unchanged in the Asian markets. Today is Black Friday in the U.S so even though the markets in the U.S will be open; the low volatility is likely to continue today. The recent HSBC manufacturing PMI report regarding China (flash report) showed that China's manufacturing PMI rose to a 13 month high as the index reached 50.4 in November. This news suggests the manufacturing sectors in China have expanded during the month. This news could have some positive lingering effects on commodities prices during the last day of the week. Conversely, EU and German PMI remained below the 50 point mark, even though Germany's PMI edged up during November. On today's agenda: German Business Climate Survey, Canada's CPI, and second day of European Economic Summit Meeting.

On Today's Agenda

European Economic Summit Meeting (second day meeting): This will be the second day for this European Council Meeting; in this meeting the EU ministers of finance will talk about the recent monetary developments in Europe; this could include Greece's debt problems, Spain's current economic climate and other economic issues. In the meantime the EU and IMF continue to clash in regards to the way best approach the Greek debt crisis.

Canada's CPI: According to the Canadian CPI report for September 2012, the CPI rose by 0.2% during the month – this is a slightly lower rate than in August. This report might affect the Canadian dollar, which is also strongly correlated with commodities rates;

Currencies / Bullion Market – November Update

The Euro/ USD increased again on Thursday by 0.44% to 1.2886. As seen in the chart below, the correlations among precious metals, Euro and Aussie are still mid-string and robust: during the month, the linear correlation between silver and Euro /USD reached 0.63 (daily percent changes). Thus, if the Euro and other risk currencies will continue to rise against the USD, they are likely to pull up affect gold and silver.

Gold_and_Silver_Outlook_112312_body_1123.jpg, Guest Commentary: Gold and Silver Outlook for 11 23, 2012

Daily Outlook

The prices of gold and silver didn't do much in recent days and only slightly rose during the week. The recent rise of the Euro may have contributed to the recent rally of precious metals prices. Moreover, the recent positive news regarding the growth in China's manufacturing sector may have also helped pressure up commodities prices. The low volatility in the precious metals is likely to continue today as its Black Friday in the U.S. This could suggest the direction of gold and silver will follow the path of Euro and other risk currencies. If there will be some positive news from Europe regarding the recent EU Economic Summit, this could also pull up not only the Euro but also gold and silver prices.

For further reading: Gold and Silver Outlook for November

By: Lior Cohen, M.A. in Economics, Commodities Analyst and Blogger at TradingNRG

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.