Exchange news. The volatility of gold raised yesterday. However, silver keeps showing higher volatility, which yesterday was 1.79 times higher than gold. Yesterdayboth silver and gold were traded within average daily range: gold with rising high volume and silver with falling volume, which is lower than the average value for 30 days.
According to BlackRock, this October American and European investors (small retail investors) have invested $1.948 billion in so-called precious metals ETP (these are electronic tools, which are traded at stock exchange and are connected with basic assets, including funds, raw material, and bonds). According to ETF Securities, though, this number amounted to $1.492 billion.
According to BlackRock, during the first week of November stable inflow of capital into gold ETP, which are traded in the USA, was kept at the level of $1.4 billion in monthly equivalent. Of course, this was favoured by nervous news about debt crisis in Europe. According to this firm, other raw material ETP have lost about $800 billion of investments. It is also stated in the report that current inflow of capital in fund ЕТР amounts to $21.3 billion. It is particularly observed on the example of tools on the basis of American shares.
Investors keep following the situation with national debt of the countries of the Eurozone. However, other risks are emerging, and they keep drawing more and more attention. IAEA report has proved that Iran has been carrying out nuclear weapon development since 2003. Recalling the recent comments of US high-rank officials concerning Iran, it can be assumed that this report will become another argument against military presence of the country or even actions against it.
November 23 is coming soon, and this date was set as final to adopt the plan on cutting the deficit of US national debt in order to avoid pre-default condition, similar to summer crisis, when the decision of the Congress was required to raise the top of the loan. The main task is to adopt the plan oncutting at least $1.2 trillion of government spending.
Using Central Banks gold reserves to supply the European Fund of Eurozone Stabilization receives more and more supporters in Europe. This time the suggestion came from mister Bofinger, one of five councils of Angela Merkel. However, it has not yet been approved by the Premier.
All this provides various potential variants of further development of the situation. One way or another, the situation will not be boring and stable.
Forecast. According to the analytics of Masterforex-V Academy Department of Derivatives Trading, today gold can show growth, whose nearest target is 1780 and then 1792. Correction is also likely to happen and target for the levels of 1760 and 1745 dollars per ounce. Silver is most likely to rise, aiming for 34.5 and then 34.8 dollars. 33.5 dollars per ounce is the point of possible correction. Bids remain “tense”, with jerks after each news issues.
