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Analytics, News, and Forecasts for CFD Markets: raw news — 12-03-2012.
Oil fell for the first time in four days after Chinese economic data signaled slower growth in the world’s second-largest user of oil.
Futures dropped from a one-week high after China said on March 10 that the country had its biggest trade deficit last month in at least 22 years. Government data also showed that China, the biggest consumer of crude after the U.S., had the weakest January-February factory-production gain since 2009 and retail sales below expectations.
Crude for April delivery declined to $105.38 a barrel on the New York Mercantile Exchange.
Brent oil for April settlement on the London-based ICE Futures Europe exchange slid $1, or 0.8 percent, to $124.98.
The price of gold is reduced to the background of strengthening of the dollar against most world currencies. The demand for more robust U.S. currency support, particularlygiven that the trade deficit in February, China had reached 31.48 billion dollars - is significantly higher than analysts' forecasts and was the highest for a period of almost22 years.
The focus of investors this week will be the new statistical data from the U.S., as well as meeting the U.S. Federal Reserve and the regulator's decision to base rate.
In addition, the gold on the COMEX now cheaper due to profit taking. Over the previous three trading days (9, 8, and March 7) on the COMEX gold price rose by 2.3% and reached a maximum value for the week - $1711.5 per ounce. During the three sessions in the price of gold has added almost 40 dollars/ ounce, providing today a good prize for speculative sales.
April futures price of gold on COMEX has fallen to $ 1692.5 an ounce .
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