FOREXYARD: Forex News Blog

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Gold & Silver Outlook For The Week Posted: 09 Apr 2012 08:25 AM PDT Before the outcome of the FOMC Meeting Minutes, both gold and silver were showing some strength and trading up. The reason for the drop in bullion prices was due to the fact that the Fed decided there was no need for a further stimulus plan until the US Economy slows down. This had a negative affect on the two metals as they tend to drop when there is positive news for the U.S Dollar. Overall for last week’s trading, gold prices sharply fell by 2.5 percent whilst silver also saw a drop for the week of just under 2.4 percent. Even though there was no commodity trading on Friday due to “Good Friday”, the Labor department released disappointing figures for the month of March. The result was well below what was expected, as a result, gold and silver prices could show a slight correction to the recent falls. A strong Non-Farm Payroll report would have a positive affect on the U.S Dollar, potentially causing bullion prices to fall as a result. The Euro also experienced sharp falls against the Greenback last week falling 1.8 percent whilst the Canadian dollar and the Australian dollar showed some resistance but in the end also showed slight drops versus the U.S dollar. The weakening of the “Aussie”,”Loonie” and the 17-nation currency could have assisted in the decline of both gold and silver prices last week. If the precious metals continue to fall, it could have a negative impact on the bullion market and could put downward pressure on bullion prices for the week ahead. There are a number of reports due for release this week which could have an impact on commodity prices. Coming up on the economic calendar this week is the U.S Consumer Price Index,American and Canadian Trade Balance,Bank of Japan’s rate decision and monetary policy,U.S PPI and U.S jobless claims weekly.

Crude Oil Drops On Economic Worries In U.S Posted: 09 Apr 2012 07:49 AM PDT Monday’s trading saw crude oil prices significantly drop during the European trading session. The commodity took a big hit from the Non-farm Payroll figures on Friday as well as escalating news from Iran regarding their nuclear Program. The Commodity Markets were shut on Friday due to the “Good Friday Holiday” but we did see crude prices slightly increase the previous trading day during Thursday as it rose 1.8% before sliding today. Once again doubts over the U.S Economy created a stir in the oil market after figures from the Labor Department on Friday were disappointing to say the least. The data from the report showed that 120,000 jobs were created in March,falling well short of the 210,000 figure that was expected. Positive news coming out of the U.S, in particular data or reports that indicate strength in the U.S Economy tends to boost Crude Oil Prices.On the other hand,  negative data as well as poor results will have a downward affect on the commodity as it loses demand. Crude oil also came under strong pressure ahead of talks between Iran and global powers including China and the U.S.The talks are set to take place this week and will discuss Iran’s nuclear program.

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