Today I have decided to take a look at other market news that is also well worth a mention. This will help give you a break from the old news and get you trading on other assets for today.
Precious metals are doing well lately and I can only assume it is in light of the crude oil prices declining. Yesterday they remained in high gains with silver going up to 589 points, platinum also climbed and hit the same as the gold price. Gold has continually done well since its’ good turn in October 2014. Trades on gold are showing investors that long term trades are going to increase the price and continue to yield profits.
However in the Asian session last week Gold, Platinum and Silver slightly decreased, this was due to traders booking their profits at the time. Having said that, the hike was welcomed shortly thereafter. I feel that these commodities are going to rebound by the end of this week.
The GBP/USD slumped when prediction of 0.7% was not reached as news of CPI broke lower than had been forecast. This had decreased by 0.5 percent when the previous release was at 1% in November. UK inflation has dropped to an all-time low in 15 years, by the looks of things it will continue till the end of this month.
Trading Tip of the Day:
Gold and Yen seem to be my safe haven for traders today. I am looking to trade a more diverse asset for the remainder of the week as I can’t play it safe all the time. I’ll be hitting the CALL on Silver and Platinum today as well.
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