Gold Spread Betting Market Continues to Rise as Equities Tumble
UK Market Comment, 18 August 2011
Closing comments from Will Hedden, Sales Trader, IG Index:
Panic selling has accelerated this afternoon and we are facing the biggest losing day yet of this summer sell-off.
Traders and pundits alike are rightly scratching their heads to try and decipher the root cause of this latest big sell-off. The Eurozone crisis keeps giving birth to small news stories, add these all together and for one reason or another the fear factor has reached boiling point today.
Banking stocks have been decimated across Europe, with indiscriminate selling even in banks that maintain their exposure to the crisis is slim. No sector is surviving this tidal wave of selling, and the fact that financials are first in the firing line will only lend support to the anti-short-selling-ban camp.
With shares spread betting investors still reeling from the recent performance of equities, the focus on the gold spread betting market continues to gather pace as it smashes through another all-time-high up to $1825 per ounce.
Everywhere you look as an investor you are being told to add gold to your portfolio. With every equity sell-off, this theory is proved more and more right. Economic data and government statements can do nothing to stop its meteoric rise and all indications point to this one-way traffic continuing.
How and where to spread bet on:
Gold, where to find free charts, live pricing, how to trade etc >> Gold Spread Betting Shares, where to find free charts, live pricing, how to trade etc >> Shares Spread Betting
The above comments do not constitute investment advice and neither IG Index nor Clean Financial accept any responsibility for any use that may be made of them.
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UK Market Comment, 17 August 2011
Closing comments from Will Hedden, Sales Trader, IG Index:
Today’s trading feels very much like one more ‘box ticked’ on the road to resuming normal service in the Autumn, as European markets trade around the flat line.
‘Quiet August’ has returned this week, with lower volumes and lower volatility across London’s main market. The last two weeks in August can be as slow as Christmas, and the best efforts of the Eurozone crisis have still not injected the same vigour we saw in the first half of the month.
SABMiller (+1.4%) has done its best to pump some excitement into the equity market, having taken its $10 billion bid for Aussie brewer Foster’s Group. We could see this story entertain us over the next few days as Foster’s are due to report flagging annual results.
Sticking with trading in London, and it’s a familiar story of weak banks and strong miners. Fresnillo (+5.2%) has risen impressively out of the leading pack today despite going ex-dividend.
Down in the FTSE 100 relegation zone, financial stocks are clearly sulking thanks to the potential financial transaction tax announced in Paris yesterday. ICAP (-3.7%), Hargreaves Lansdown (-3.2%) and Schroders (-2%) join the battered banks in the financial hurt box, but Standard Life (-4.6%) outsells them all, thanks in part to its dividend.
Tomorrow we have another piece of this week’s UK data-puzzle with July retail sales. These are expected to show a month-on-month increase of +0.3% from 0.7% in June.
Retailers will be hoping that the ‘average’ summer weather will have urged the consumer past the travel agents and into the shops, and with the patchy outlook, they will be glad to see September and the first signs of ‘how many shopping days left till Christmas?’
How and where to spread bet on:
SABMiller, where to find free charts, live pricing, how to trade etc >> SABMiller Spread Betting Schroders, where to find free charts, live pricing, how to trade etc >> Schroders Spread Betting
The above comments do not constitute investment advice and neither IG Index nor Clean Financial accept any responsibility for any use that may be made of them.
IG Index >>
"With IG Index you get all the normal advantages of Spread Betting plus..." >> read
IG Index review.
Risk Warning: Financial Spread Trading and CFDs carry a high level of risk to your capital. You may lose more than your initial investment. They may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
Article provided / approved by IG Index which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 114059.
'Gold Spread Betting Market Continues to Rise as Equities Tumble' edited by AG, updated 18-Aug-11
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Risk Warning:
Please note that spread betting and CFD trading carry a high level of risk to your capital. You can lose more than your initial deposit. These products may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
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