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by Jrg Bernhard
A looming restrictive US monetary policy and high interest rates, which are normally seen as a negative factor on the gold markets, are currently having no effect. Crisis protection has a good chance of making a plus for the third time in four weeks. This is currently 1.5 percent. Yesterday’s closing of ranks by the 30 NATO, G7 and EU states indicates that support for the democratically elected government of Ukraine will be increased. This should significantly reduce Putin’s chances of a military victory in Ukraine. As long as Putin remains in power and there is a latent danger that he might invade other countries, the attractiveness of investing in gold should at least remain at the elevated level.
On Friday morning, the price of gold presented itself with held quotations. By around 7:15 a.m. (CET), the most actively traded futures on gold (April) fell by 3.70 to 1,958.50 dollars per troy ounce.
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Rohl: Stable before the weekend
The situation on the markets remains tense in view of the hardened fronts between Russia on the one hand and Western countries on the other. Discussions about a renewed release of strategic oil reserves by the USA and its allies prevented a further increase in the price of the fossil fuel before the weekend. In the past few days, the high level of volatility and significantly increased security deposits (margin) on futures exchanges have led to lower futures turnover. In other words, ideal deals are becoming more expensive and risky for speculators. Towards evening, Baker Hughes, the US service company active in the oil sector, will publish its weekly report on North American drilling activities (6:00 p.m.), thereby attracting increased attention on the energy markets. Should there be any surprises here, this should also affect the trading trend for the coming week.
On Friday morning the oil price was slightly higher. As of around 7:15 a.m. ET, the WTI next-dated future was up 0.24 to $112.58, while its Brent counterpart was up 0.66 to $115.96.
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