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  1. #1
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    Smile Ikon forex “Gold production in Russia from January to November went down by 2.2%"

    According to the latest data released on Tuesday (December 28) of Russian Gold Industrialists’ Union the outcome of the gold production industry from January to November this year went down by 2.2 percent compared with the same time of last year.

    The data indicated the general outcome of gold production from January to November in Russia was at 185.5 tons, and that of the same time of last year was 189.6 tons.

    Gold mining production from January to November reduced by 1.4 percent to 161.9 tons, compared with the same time of last year.

    Edited by Laura in Ikon Group.

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    Smile Ikon Forex “USD/JPY refreshed new low point and would further go down”

    The forex price USD/JPY refreshed the lowest point for one and half month in the market, and a further slumping down space was open.

    Early in the Asia forex market on Wednesday (December 29), the forex price of USD/JPY refreshed the lowest point for one and half month in the market at 81.80, and so far it went back to the trading range of 82.30-40.

    The forex analyst pointed out the forex price had broken the supporting point at 82.30 in the previous night in the forex market, many forex investors chose to stop loss therefore this forex price fell to the lowest point for one and half months at 81.80. So far the further slumping down space for this forex price was opened, according to the daily chart that MACD and the random index was expected to be short, and if this forex price fell below the average line for 55 trading days in the forex market, later in the forex market it might slump to below 81.00.

    This forex analyst also pointed out because of the forex trading at the end of the year was quite dim; the fluctuation in the forex market might be expanded. Sovereign debt crisis in Euro Zone and the position of the US FED on the quantitative easing policy was not quite sure, and all of these would become the advantage condition for another surging up of JPY in the market. It is predicted that fluctuation range of the forex price of USD/JPY was at 81.50-83.00.

    The forex price of USD/JPY was at 82.31/34 at 08:12 Beijing time.

    Edited by Laura in Ikon Group.

  3. #3
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    Smile Ikon forex "Gold futures in COMEX were closed low due to decreased hedge buying"

    Because the economy continued to get improvement, the forex investors decreased their hedge buying in the forex market, therefore, gold futures in COMEX was closed low on Thursday (January 6), and that would be the third trading day for this forex price to be closed low in succession.

    Gold future contract in COMEX in February was closed low by 1.60 US dollars per ounce to 1372.10 US dollars per ounce, and the slump amount was 0.1 percent. In the previous trading session, gold future forex price had reached the lowest point since December 16 at 1364.00 US dollars per ounce, and it repeatedly reached 1432.50 US dollars per ounce – the historical high point on December 7.

    According to the latest data of DOL which was released on Thursday that the initial unemployment number at the beginning of the week of January 1 in US was increased by 0.18 billion to 4.09 billion, and the previous expectation was 4.00 billion.

    Leonard Kaplan, the president of Prospectors said gold forex price might just be at the end of the bearish market, because the economy is getting improved and once the forex rate was increased, the gold forex price would be forced to go down.

    Edited by Laura in Ikon Group.

  4. #4
    Diamond Member Array musketeer's Avatar
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    Quote Originally Posted by ikonfx View Post
    gold forex price might just be at the end of the bearish market, because the economy is getting improved and once the forex rate was increased, the gold forex price would be forced to go down.

    Edited by Laura in Ikon Group.
    ??????????

  5. #5
    Standard Member Array Mitchel's Avatar
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    As far as the gold hedge is concerned the information works but the recent prevailing situation has ruled out the strategy . If you are working on the gold hedge right now then be careful.But i appreciate for sharing the information in this thread.

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    I agree LOL

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