It’s time to count the gold at the world’s leading gold producing companies. The quarterly reporting is underway, reports which will give the world’s markets and traders an indication of the strength of the global industry. The results of the quarterly gold reports will have huge impacts on the price of gold at trading companies such as HY Markets.
By the end of the coming week gold companies including; Gold Fields, AngloGold Ashanti and junior Great Basin Gold will all announce their quarterly production figures. If these figures are better than expected the price of gold at HY Markets and other online trading companies will certainly rise.
On Monday the price of both platinum and palladium reached 18-month record high levels with platinum reaching $1,626 a troy ounce and palladium climbing to $457 an ounce. In a similar fashion to when the price of gold rocketed at the end of last year, Commodities Traders Profited From Platinum And Palladium prices which have offered lucrative positions.
Even though platinum and palladium headed the precious metals with gains of 1.5 per cent and 1.4 per cent respectively there were also other metals following suit too. On Monday there we quite a few commodities traders, at companies such as eToro, who profited from the weak US dollar which pushed the price of gold up once again. In London the price of gold recovered to $1,137.10 an ounce, which is a gain of $5.30 for the day, following a drop in price of nearly $12 on Friday.
The price of an ounce of gold is currently at a record all time high. This is due to the continuing low US interest rates and concerns about the strength of the dollar, coupled with the increased demand for gold in the run up to Christmas. Last night the price of gold hit an all-time record high at $1,173.50 per ounce, up nearly 2% from the close of the markets on Friday. The continuing strength of Gold Has Made Many Traders Rich at market trading sites like Forexyard.com, for both short term and long term gold investments.
Many market analysts believe that due to the US government’s massive economic support package weakening the dollar so severely the price of gold will continue to rise well into the New Year. This means there may never be a better time to place some of your trading bankroll into this, most precious of metals.
