Gold Trades Over $120 Range

Gold Trades Over $120 Range

Go to » Spreadex Website

A weekly review of the markets, supplied and sponsored by Spreadex.

For this week's review see Spread Betting Weekly.

Weekly Market Review: 8 Feb 2010

Indices

A highly volatile week saw indices whip back and forth, with only a powerful late rally Friday saving the week from heavy losses.

The Dow Jones finished the week down only 0.5% at 10,012, but at one point Friday was down 2.3%.

The S&P 500 gave up 0.7% to 1066.2, closing out a volatile week punctuated by mixed signals from the labour market data and growing anxiety over fiscal problems in Europe.

The FTSE 100 closed before the late rally in the US, registering a 2.5% slide on the week to 5060.9.

Commodities

Volatility was also the order of the week in commodities.

Gold had a $120 swing in the week, rising 4% by Wednesday to $1,124 and then dropping 7% by Friday morning to $1,045.

It closed the week 1.5% lower at $1,065. Brent crude also had a wild week, a 1.4% drop disguising a $5 rally by Wednesday, followed by a $9 slide by Friday. It closed the week at $70.3.

Silver continued to slide, dropping another 7% to $15.15.

Forex

The Dollar continued to strengthen and the Euro continued to weaken on concerns about sovereign debt in Spain, Greece and Portugal.

The Euro fell to new 9 month lows against the Dollar, and has retraced 50% of the gains it made against the Dollar in 2009. EUR/USD closed down 1.1% at $1.3706.

Cable also had a significant week, breaking a nine month range, dropping 2.3% to $1.5635. GBP/EUR eased 0.7% to €1.1438.

The Week Ahead

A relatively quiet week on the economic front, but plenty of earnings to watch out for.

Hasbro reports on Monday and UBS, British Land, Walt Disney and Coca Cola are on Tuesday.

BHP Billiton and Reckitt Benckiser are on Wednesday, whilst BT, Phillip Morris, Rio Tinto, Rolls Royce, Credit Suisse and PepsiCo report on Thursday.

Retail Sales and Jobless Claims on Thursday are the highlights of the economic news.

The above comments do not constitute investment advice and neither Spreadex nor Clean Financial accept any responsibility for any use that may be made of them.

Spreadex » "With Spreadex you get all the normal advantages of
Spread Betting plus iPhone apps, 24 hour trading, charts..." » read Spreadex review.

Risk Warning: Spread betting carries a high level of risk to your capital and can result in losses larger than your initial deposit/stake. It may not be suitable for everyone, so please ensure you fully understand the risks involved.

Article provided / approved by Spreadex Ltd which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 190941.

'Gold Trades Over $120 Range' edited by DB, updated 08-Feb-10

Related Articles:

Spread Betting Weekly, updated 22-Feb-10
Crude oil futures fell on Friday for an eighth straight session, the longest losing streak in more than six years. This came after better-than-expected...read article: Spread Betting Weekly.

Weekly Spread Trading Review, updated 15-Feb-10
Once again gold dominated the headlines with a surge to fresh new highs on Thursday ($1226) followed by a...read article: Weekly Spread Trading Review.

Gold Trades Over $120 Range, updated 08-Feb-10
Gold had a $120 swing in the week, rising 4% by Wednesday to $1,124 and then dropping 7% by Friday morning to $1,045. It closed the week...read article: Gold Trades Over $120 Range.

Banking Stocks Weigh on the FTSE 100, updated 01-Feb-10
Banks continued to weigh, dragging the FTSE 100 down over 2% to 5188. In the US, mixed earnings results and some positive economic data wasn't enough to...read article: Banking Stocks Weigh on the FTSE 100.

Obama's Reform Plans Strengthen the US Dollar, updated 25-Jan-10
The knock-on effect of Obama's plans, rumours of Ben Bernanke not being retained for a second term and a rise in risk aversion in general saw a broad based Dollar rally last...read article: Obama's Reform Plans Strengthen the US Dollar.

Greek Debt Concerns Drag on the Euro, updated 18-Jan-10
More worries about Greece's fiscal situation and refuted rumours that Angela Merkel was preparing to resign hit the Euro. It dropped over...read article: Greek Debt Concerns Drag on the Euro.

Equity Markets Start 2010 Positively, updated 11-Jan-10
Equity markets started on a strong footing in 2010, as positive data out of the Far East and the US drove markets higher. Not even the disappointing...read article: Equity Markets Start 2010 Positively.

US Indices End the Decade Lower, updated 04-Jan-10
The S&P 500 closed at 1,115.1, down 1% on the week but up 19.7% on the year. The DJIA closed at 10,428, down 0.9% on the week but up 15.4% on the year. US indices finished the decade around...read article: US Indices End the Decade Lower.

Commodities See Volatility on Strengthening Dollar, updated 21-Dec-09
Commodities had another volatile week as a resurgent Dollar and 'misunderstandings' between Iran and Iraq caused gold and crude oil to...read article: Commodities See Volatility on Strengthening Dollar.

Crude Oil Futures Continue to Fall, updated 14-Dec-09
Crude oil futures fell on Friday for an eighth straight session, the longest losing streak in more than six years. This came after...read article: Crude Oil Futures Continue to Fall.

First Page << 1 2 >> Last Page

Also see:

Spread Betting Weekly Index – Weekly reviews of some of the key spread betting markets from Spreadex.

Q) Average Trading Results?

A) Get free trading tips, offers, price updates, important news and more! All Free - Click here!

Risk Warning: Spread betting and CFD trading carry a high level of risk to your capital and you may lose more than your initial investment. Spread betting and CFD trading 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.

The contents on CleanFinancial.com are for information purposes only and are not intended as a recommendation to trade. Nothing on this website should be construed as investment advice.

Neither CleanFinancial.com nor any contributing company/author accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.

* Tax law is subject to change or may differ if you pay tax in a jurisdiction other than the UK.

1) Daily Trading Tips

2) Financial Tips