Excerpt from: CFDs & Spread Bets
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| July 29, 2008 | | Spread bets on gold prices | When considering gold prices and financial spread betting strategy, it is important to look at different indicators, and to understand how gold prices move in commodities trading.
Right now precious metals are struggling as oil prices drop and as the US dollar gains against the euro in forex trading. Indeed, spread bets on gold prices should consider that they are slumping. Bloomberg reports on gold prices in commodities trading:
``There's weakness in gold and precious metals due to a
stronger dollar and weaker crude oil,'' said Matthew Zeman, a
trader at LaSalle Futures Group in Chicago. ``Gold has been
following the inflation outlook.''
With the US dollar doing better, and risk appetite increasing a bit, there isn't much need for gold as a safe haven investment.
| Topic Tags: euro forex trading, financial spread betting, forex trading, gold prices, gold prices spread bets, gold prices spread betting, spread betting strategy, US dollar forex trading | |
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