Commodities Market Outlook
Another trading week has passed and traders saw volatile highs and lows. Crude Oil has seen some good days when its prices temporarily soared, only to come down again for the previous and past trading weeks. Gold futures notably plunged, as it has been doing so in the past week or two. However, both Gold and Silver closed higher this week. And as the first quarter drew to a close, Gold has posted very negative figures, as did Crude Oil that can be attributed to so many factors. A binary trader should look into which of the commodities is worth risking your money for and should look into the following weekly analysis for the coming days of trading.
Morning gains had Gold Futures go up by 5.75 for the day, trading at 1249.15. There’s not much action as the US markets were closed for the holiday, and traders turned to haven asset trades following the Egyptian military’s ousting of its current government. Elsewhere, in London, gold prices dipped as the political rift in Portugal is reported to be resolved by week’s end.
The European Central Bank (ECB) is scheduled to release its monthly statement, which could potentially add to the volatility in gold trading. For the past 100 days, the volume for gold futures was lower than the average, according to data compiled by Bloomberg. When the US Federal reserve Chairman Ben S. Bernanke announced that the central bank may tapers its stimulus program, gold bullion declined by 23% in the second quarter. The ECB and the Bank of England are scheduled to release their policy decisions on their stimulus programs today. Investors involved in binary trading should look into this as well.
The price of this precious metal climbed and traded on a positive note, posting a gain today at 19.55. The US dollar is experiencing pressure stemming from a mixed economic US data, political turmoil in Egypt and Portugal, which made binary trades in safe haven assets look promising. Get ready to open Call positions in your binary trading with this coming week.
Crude Oil trading has been so volatile this recent trading week, capping quarterly losses and not taking any decisive direction. However, if there is one word that can describe the black gold these days is that it is stable. The commodity was able to maintain its strength, even managing to finish higher by 23 cents. There is a lot of confidence being shown in crude oil binary trading this morning, its movement dependent on the data that is soon-to-be released from the US and the Eurozone. Crude oil futures are expected to continue its ascent as the trading week concludes and investors feel that it is worthy to go long on the commodity.
Commodities Market Outlook,