Chinese yuan continuing to strengthen
Read More: http://newsdoors.blogspot.com/2012/11/chinese-yuan-continuing-to-strengthen.html
Precious metals have had a decent start to the week, following last Friday’s selloff. Gold has managed to put some distance between itself and $1,700, while silver is managing consistent time above $32.50, which marks a change from the pattern we’ve seen for much of the last year, whereby that price has tended to be an upper-limit for the metal. Platinum and palladium as well as industrial commodities have risen as well, following more optimistic noises coming from Washington about fiscal cliff negotiations. US House Speaker John Boehner said that talks last Friday between Democrats and Republicans had been “constructive”.
On a sadder note, gold is also receiving buying support from the latest Israel versus Hamas conflict in Gaza. An escalation of the fighting will probably push gold higher – along with the “safe haven” US dollar and crude oil – and result in selling pressure on the euro and general equities. All of this applies in spades to any possible conflict between Israel and Iran.
Read More: http://newsdoors.blogspot.com/2012/11/chinese-yuan-continuing-to-strengthen.html
