2 Sep 2013
Metals rebound off lows on Asian data
FXstreet.com (Chicago) – Metals extended bearish momentum but bounced off bottoms to edge higher on Chinese and Australian data as the Asian trading journey continues to evolve. In China, the NBS manufacturing PMI was 51.0 vs. expected 50.3 while in Australia building permits increased to 28.3% from prior -13.0%.
Gold reached $1,391.80 lows dropping from $1,411.50 highs to now trade at $1,396 after reversal to partially erase losses accounting for 1.20% so far. Silver is now trading at $23.44 after dropping from $24.07 highs and reaching $23.41 lows to accumulate 2.27% losses so far. Platinum is 0.15% up and trades at $1,524.70 after falling from $1,529 highs and dropping to $1,520.20 bottoms. Copper is 0.14% up and trades at $3.2395 after reaching $3.2395 highs and $3.2230 lows. Finally, palladium is 1.80% down after dropping from $739.40 highs and bouncing off $721.10 lows.
President Obama is expecting Congress to back him up to strike Syria “tomorrow or next week or one month from now”.
Gold reached $1,391.80 lows dropping from $1,411.50 highs to now trade at $1,396 after reversal to partially erase losses accounting for 1.20% so far. Silver is now trading at $23.44 after dropping from $24.07 highs and reaching $23.41 lows to accumulate 2.27% losses so far. Platinum is 0.15% up and trades at $1,524.70 after falling from $1,529 highs and dropping to $1,520.20 bottoms. Copper is 0.14% up and trades at $3.2395 after reaching $3.2395 highs and $3.2230 lows. Finally, palladium is 1.80% down after dropping from $739.40 highs and bouncing off $721.10 lows.
President Obama is expecting Congress to back him up to strike Syria “tomorrow or next week or one month from now”.