The gold price tended uphill for the fourth day in a row. He benefited from growing concerns about the US state budget.
By Jörg Bernhard
The risk of risk of the markets went downhill after a new budget draft of the US government was published. This could further increase the already very high deficit. Against the background of the recent downgrading of the US loan due to Moody’s as a result of increasing debts and the careful economic assessment of the US Federal Reserve Fed, the crisis currency at the increased level continues to show a high level of relative strength. The gold price in the afternoon could experience new impulses if important US economic indicators such as the chicago Fed economic index, the weekly first income on US unemployment help and various S&P shopping manager indices are published. With just more than 50 points for the month of May, the latter should still show slight growth in the US economy.
On Thursday morning, the gold price presented itself with higher notations. Until 8:00 a.m. (CEST), the most active future on gold (June) increased by 19.00 to $ 3,332.50 per troy ounce.
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Crude oil: Easy recovery after the abscess
The oil prices have easily recovered from yesterday’s losses. The US energy authority EIA reported an unexpected increase in crude oil reserves by 1.328 million barrels on Wednesday afternoon for the past week. Analysts, on the other hand, had predicted a decline of 1.85 million Barrel. The gasoline and distillate stocks also went up, even though declines were also expected. The massive sales pressure on the US stock markets increased the negative mood on the oil markets. The geopolitical situation in the run -up to the fifth round of negotiation between the USA and Iran is now causing an increased tension. These discussions contributed to dampening fears of possible offer disorders in the Middle East after media reports circulated on Wednesday via possible Israeli air strikes on Iranian nuclear facilities.
On Thursday morning, the oil price presented itself with attractive notations. By around 8:00 a.m. (CEST), the nearest WTI-Future increased by $ 61.74 to $ 61.74, while his counterpart on Brent attracted $ 65.03.
Editor finance.net