Base metals are trading up 0.2% to 0.72 from 0.2% to 0.72 in London electronic platform for metals with the support of the hopes of a truce. U.S. markets will be closed today for the Labor Day holiday for so long is expected to be trading volume and prices Khvevin.
Asian stocks were mostly positive also based on expectations similar to the optimism of the euro zone, as traders awaited action Mr. Draghi ECB meeting next September 6. Earlier today HSBC Index Purchasing Managers manufacturing sector in China to its lowest level in nearly nine months after the fall of industrial new orders.
Is likely to slowdown in the euro zone and global growth numbers faded to weaken demand for exports of who Chinese goods and increase the hope of calming the second largest economy in the world. China is about to witness a change in leadership this year and may continue the Prime Minister in the monetary policy discipline in order to promote economic activity and achieve growth targets. Markets expect the Chinese central bank to provide a form of stimulus soon, but without demand in the euro area and improved indicators of the United States will deliver a stimulus deaf ears.
Stocks are traded, including base metals pack at the London Stock Exchange for metals slight increase based on a similar hopes to facilitate coming from the United States and China.
Leaders in the region increased efforts to control the crisis, which lasted for three long years has provided the European Central Bank also support which may continue for the purpose of optimism among investors. Will be watching interest rate announcement from the European Central Bank this week is likely to Trajab European market developments and remain in positive territory today. Rumors talking about Angela Merkel travels between Spain and Italy and ask the leaders to refrain from seeking assistance until the completion of the new programs and existing court challenges. Spain stuck with areas that need to rescue operations and Bankia need to additional funds. Greece on the verge of all funds have been exhausted and Italy on the verge of collapse as Monte continues to deny the need for funding despite the economist's statement that rescue is inevitable.
PMI figures are due from Germany and the United Kingdom, which has improved slightly after bottoming in the summer months, and possibly support the gains in metals. Japanese auto sales have also improved slightly, and may continue to restrict the negative. Today, U.S. markets are closed due to Labor Day, and therefore the session is likely to remain weak due to the absence of signals from the world, AOS-largest economy.
Expected to maintain contracts for delivery of gold futures for December the momentum to rise after record high $ 4 this morning and bringing them to their highest level since 22 week, with the support of the president of the Federal Reserve Bank.
Australian retail sales fell unexpectedly by most in nearly two years. Weaker AUD to its lowest level in five weeks, which would create some pressure on the metal (weakness in iron ore prices due to lower demand in China) as we have seen gold and relatively lower gains of silver. We expect gold to keep on the march, as traders betting on rising prices. Of speculators, and increased purchases by 158,491 contracts taken a net long position by 7%. For the long-term fundamentals, gold grades are declining compound annual growth rate of 8%, while the higher monetary cost a compound annual growth rate of 14%.
Seems that silver will continue to rise on the course on Friday by more than 1% in the Globex despite the downturn in Chinese manufacturing and Australian retail sales slumped. The markets can be looking forward to the ECB meeting on September 6, which was built high hopes on Draghi's remarks which after he pledged boldly to save the euro. Silver traders also bet on high Alosaarh after publication of CFTC data on Friday that showed that procurement contracts exceeded sales contracts 28,638 deal, the highest level since March 6. Net long position improved by 0.35% a week earlier. And stimulation of any of the major economies, the United States and the European Union or China, be positive for silver and metals demand will increase. With prospects for the U.S. stimulus, silver prices are likely to remain strong.