3 Sep 2013
Metals shine on at closing
FXstreet.com (Chicago) – Amid concerns on potential attack to Syria and seasonality patterns, gold is back above $1,400. Most metals record gains so far.
Not making war?
In Wall Street, the markets handled to pull off a strong descend that sent the equities indexes to the grounds after the US military attack was supported by many Republican senators. The Dow closed up 0.16%, the Nasdaq gained 0.63% and the S&P 500 was up 0.42%. In the US, the most recent official announcement was made by US Secretary John Kerry stating that a refusal to act would undermine US credibility, including the pledge to prevent Iran from acquiring nuclear weapons. He added that the attack would not be aimed to making war with Syria but rather to deter and degrade chemical weapons capability.
Bullish metallic momentum
In the meantime, gold maintained its rally above $1,400 and trades at $1,412.60 with daily lows at $1,373.60 and daily highs at $1.416.40 for a 1.18% gain. Silver follows to remain above $24 and trade at $24.30 printing lows at $23.11 and highs at $24.53 for a 3.33% daily gain. Platinum is also up and trades at $1,539.70 registering lows at $1,512.90 and highs at $1,540.90 for a total of 0.83% daily gains. Copper is 2.44% up and trades at $3.3120 with lows at $3.2450 and highs at $3.3275. Finally, palladium is left behind with 0.57% losses so far and trades at $719.75 after hitting bottoms at $714.25 and reaching highs at $731.75.
Not making war?
In Wall Street, the markets handled to pull off a strong descend that sent the equities indexes to the grounds after the US military attack was supported by many Republican senators. The Dow closed up 0.16%, the Nasdaq gained 0.63% and the S&P 500 was up 0.42%. In the US, the most recent official announcement was made by US Secretary John Kerry stating that a refusal to act would undermine US credibility, including the pledge to prevent Iran from acquiring nuclear weapons. He added that the attack would not be aimed to making war with Syria but rather to deter and degrade chemical weapons capability.
Bullish metallic momentum
In the meantime, gold maintained its rally above $1,400 and trades at $1,412.60 with daily lows at $1,373.60 and daily highs at $1.416.40 for a 1.18% gain. Silver follows to remain above $24 and trade at $24.30 printing lows at $23.11 and highs at $24.53 for a 3.33% daily gain. Platinum is also up and trades at $1,539.70 registering lows at $1,512.90 and highs at $1,540.90 for a total of 0.83% daily gains. Copper is 2.44% up and trades at $3.3120 with lows at $3.2450 and highs at $3.3275. Finally, palladium is left behind with 0.57% losses so far and trades at $719.75 after hitting bottoms at $714.25 and reaching highs at $731.75.