Fundamental Precious Metal

So far today, no fundamentals are being posted from the world's largest economy but the superpower continues on undergoing its gradual economical recovery progression as more revival signs from the ongoing downside pressures of the recession are being showed and witnessed throughout several sectors, knowing that last week showed improved import prices and retail sales throughout this past period, not forgetting a narrower-than-expected U.S. trade deficit along with slight signs of improvement detected within the deteriorated labor sector.

However, the green Benjamin lost slender momentum today, as traders appetite of risk was boosted and encouraged them to target the high-yielding euro after that Abu Dhabi pledged to bail out Dubai, pushing accordingly the dollar index, which tracks the strength of the Federal currency in front a basket of currencies to plunge from a one-month high reached out last week to trade so far around 76.38 recording a high of 76.66 and a low of 76.24.

As a result the yellow precious metal prices were able to incline on the daily chart due the present weakening of the dollar, knowing that these two have an inverse relation, having accordingly gold appeal as an alternative investment boosted and trading around $1124.96 an ounce recording a high of $1127.65 an ounce and a low of $1109.95, while the commodity indices REUTERS/JEFFERIES CRB INDEX gained 1.08 points to 271.09.
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IWAN CAHYO SURYADI, "The Trend is Your Friend"