Oil Sold, Gold Finds Support as Euro Crisis Fears Return in Force

Crude oil and copper followed stocks lower but precious metals found modest support as French and Greek election outcomes sparked Euro crisis fears.

Crude oil and copper followed stocks lower but precious metals found modest support as French and Greek election outcomes sparked Euro crisis fears.

Gold and silver continued their rally while the rest of the markets (including energy commodities and U.S stock markets) are falling. This movement in different directions isn’t likely to last long as energy commodities and stock markets tend to be strongly linked with the precious metals markets.

Join Currency Strategist Michael Boutros as he offers current setups and reviews the mechanics of Scalping in the FX markets as it pertains to the RSI indicator.

Knowing the character of a currency pair is important and highlights extreme caution on our GBPJPY short.

Commentary out of the European Central Bank has soothed concerns about Spanish debt, providing the necessary catalyst to stem recent bearish price action across higher yielding currencies and risk-correlated assets. The Euro was notably stronger against the Japanese Yen amid the flight to yield

Canadian housing starts unexpectedly accelerated in March to its fastest pace since October 2008. The Canadian dollar rose against the U.S

Although we saw some moves in markets overnight, there were very few fundamental developments to talk about and we now look ahead to today’s Fed Beige Book…

Read more:
Australian Dollar Cross Pick 03.12.2012
var addthis_pub = ”;
var addthis_language = ‘en’;var addthis_options = ‘email, favorites, digg, delicious, myspace, google, facebook, reddit, Buzz, more’;

Here is a short overview of the recent changes in gold and silver during the week of March 5th to 9th; this includes a short description of the main news items, decisions and events that may have affected precious metals

The greenback continue to gain ground on Monday, with the Dow Jones-FXCM U.S. Dollar index climbing to a fresh monthly high of 10,018, and the rally may gather pace over the next 24-hours of trading should the Federal Reserve continue to soften its dovish tone for monetary policy.