Forex Currency Trading Today

Gold and Silver Prices Advance – USD Up vs JPY but Down vs EUR – Crude Oil Higher

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(Best Syndication News) The dollar picked up steam against the yen but dropped sharply against the euro, while most commodity prices began to advance today (see forex and futures charts below). Several factors worked in favor of gold, silver and crude oil prices.

Precious Metals

Gold prices jumped after two-straight days of declines. Stock and commodity prices advanced during the testimony of Federal Reserve Board Chairman Ben Bernanke at a House Budget Committee meeting. The Fed Chair said that lawmakers should postpone budget reduction proposals and promote growth in the near-term.

Gold Prices Dropped while Silver was Unchanged – USD Up vs JPY but Down vs EUR – Crude Oil Lower

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(Best Syndication News) Brent crude oil advanced today as tensions between Iran and the United States continued to fester (see forex and commodities charts below). The dollar gained against the yen but slipped against the euro despite the uncertainty in Europe.

Precious Metals

Gold prices were lower Friday and Monday after seven straight positive sessions on the COMEX (see the survey #2 chart below). Encouraging economic news and low interest rates in the United States helped propel the golden metal lower.

Forex Trading and Currency Exchange Rates – USD/JPY rises as EUR/USD drops

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(Best Syndication News) The dollar is trending higher early Monday as stock markets in Europe open lower (see forex tables below). Last week’s lower-than-expected U.S. unemployment rate failed to provide enough optimism to bolster stock prices today.

World Economic News

Political leaders in Greece failed to reach a final agreement on austerity measures Monday. This put downward pressure on stocks and the euro while continuing to cast a shadow on future bailouts.

Forex Trading and Commodities – Gold and Silver Prices Advance while USD was mixed vs EUR and JPY

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(Best Syndication News) Gold prices jumped again today as traders took advantage of the long-term policy signals from the Federal Reserve (see forex and futures charts below). Although inflation could be curtailed by low rates, investors balked at the weak pay-off in government Treasuries.

Precious Metals

Gold has been higher seven-straight sessions while copper, aluminum, and other utilitarian metals bounced around. April gold on the COMEX added $9.80 (+0.56%), to settle at $1,759.30 on Thursday (see survey #2 settle price chart below).

Gold Prices Climb as Silver Slips– USD Higher vs EUR but Lower vs JPY – Brent Crude Oil Mixed

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(Best Syndication News) Gold and silver prices moved in opposite directions Tuesday as traders looked for safe-havens (see forex and futures charts below). The U.S. dollar declined against the yen but gained ground versus the euro.

World Economic News

The Australian Bureau of Statistics (ABS) said that home prices fell 4.8 percent on a seasonally adjusted annual basis in the fourth quarter 2011. Economists thought the decline would only be 3.3 percent. This could signal another round of rate cuts.

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