trading

Volatility remains high as spot gold saw wild swings from positive to negative. The metal rallied to $1671, before turning; as US ISM data was positive; lower to $1660.

On the final trading day of April we saw volatility. Spot gold retreated to $1645, only to bounce back to trade above key support at $1650.

Spot gold started the week off firm before mixed US data and a softer Euro took the metal off of its highs at $1665. The metal recovered by late afternoon to trade above $1650. It was mostly thin volumes as China and Japan are out due to holidays. The euro slipped to 1.3205 on further uncertainty in the eurozone as Spain has fallen back into recession.

Precious metals advanced Thursday as disappointed U.S jobs data coupled with Fed Chairman Ben Bernanke speech yesterday have left investors nervous and fleeing out of the U.S dollar.

A choppy sideways day for precious metals as spot gold regained a portion of yesterday’s losses. The yellow metal traded to $1648, before slipping lower.

A quiet day in the metals market saw gold trade on either side of unchanged levels. A lack of data and nothing new out of Europe kept traders and investors on the sideline.

A complete washout for commodities across the board as precious metals, Crude oil and Equities were all lower, against a backdrop of a significantly higher U.S dollar vs. all major currencies.

Another muted day on the metals market as spot gold traded lower to $1683. Traders and investors awaited the FOMC meeting on interest rates.