Fundamental Analysis for Precious Metals


"The yellow metal increases slightly in thin trading."

The precious metal inclined slightly in little holiday trading yet remaining somewhat steady as the dollar was little changed. However, the U.S. dollar may gain as consumer spending and durable goods orders came better than expectations. Oil, on the other hand, rallied above $36 a barrel pushing gold prices upward. Also U.S. stocks on Wednesday gained on the good data of consumer spending and durables. Consequently, Asian stocks spiked trailing its U.S. counterpart; so far, the precious metal recorded a high of $849.50 an ounce.

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