I can understand why you might be…

Many of my friends in the past few years have fared well with their strategies. Since 2002 they have been through the lows of 2003 and 2009 and maintained an iron grip. They have traded well and got some hefty profits. But now everything is becoming a little on edge… My forex friends are becoming increasingly nervous with every new open trade. Read More

Have to say I was a little surprised…

Not so much about the SNB intervening to weaken the Franc to 1.20 EUR, but the aftermath was an obvious downtrend for our favourite safe haven – Gold. We heard plenty of cries when the SNB announced the news that Gold is “the last place to go” due to speculation that Japan may follow suit. Heres a look at how it went down yesterday:

Although this morning, Gold rose over 1.5 per cent to $1,842.89 an ounce after its most volatile day in 14 days, with a trading band of more than $80.

“Some investors, speculators and physical buyers have shown a lot of buying interest at current prices, as they are much lower compared to a few days ago,” said Mark Balls at a London-based bullion house.

Spot gold hit a record high of $1,920.3 on Tuesday. Technical analysis suggested that spot gold could fall towards $1,793.19 later in the day, said Reuters market analyst Wang Tao.

The faith in gold’s long-term bullish trend remained intact as concerns about global growth still run high, although the short term is likely to remain choppy.

“Concerns about economic growth in the United States and euro zone will keep supporting gold prices. Even though we may see liquidation repeatedly along the way, gold will rise towards $2,000,” Mark added.

- Sue

Sue Clark is the forex news writer at AppliedFX.com, please leave your feedback and comments on this article using the form below.

The markets have hope again…?

The recent economic data from the U.S. was mixed at best. After all, consumer spending rose in July, much stronger than expected. But will this remain so? Probably not, because that consumer confidence fell in August to its lowest level since April 2009 – and that put the U.S. deep into recession. The hope for further bond purchases by Read More

But who will rescue the rescuers, when things get tight?

With the weak economic indicators in the U.S, Japan and the Euro zone central banks currently providing good arguments to keep interest rates at historically low rates through unconventional measures, we are seeing monetary policy ease further. Particularly in the U.S., the discussion is about “QE3″ – the third round of buyouts of government bonds and other debt instruments. Read More

The debt issue is still high on the agenda for forex traders.

You see it in their daily trading. Back and forth to the trading floor, but the situation is good for only a few real winners. One of them in the past few weeks has certainly been silver. The little brother of gold is apparently back on track. Forget about the little crash in early May, when many investors had believed the success story of the silver is coming to an end. Read More

Analyzing and forecasting a given market can be a Herculean task even for the most experienced professionals. The foreign exchange (forex) market is no different. This global market is made up of Read More