Tuesday, 9 February 2016

Precious metals on focus


The continuing risk-off mood of investors helped gold to continue its upward movement that began in January. The yellow metal managed to reach the level of $ 1,200 for the first time since June 2015. Gold gained 12 percent since the beginning of 2016 due to uncertainty about the rise in interest rates by the Federal Reserve.
The precious metal was trading 0.43% lower at $1,192.70 an ounce early on Tuesday, after reaching a high of $1,201.10 an ounce yesterday evening, a level last seen on June 22, 2015.
Silver followed gold on the way up and managed to rise by 2.5%. The noble metal successfully overcame the 200-day moving average and reached $ 15.09 an ounce. The next target is the area around $ 16.
Platinum followed the positive trend of precious metals and rose with 1.8 %. The metal broke the 100-day MA at 897.65. The next target is the 200-day moving average and the level around $ 970.80.

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