Market Pulse: Cyprus crisis puts the shine back into gold
Thursday, March 21, 2013 - 03:59
Mar. 22 - Cyprus crisis puts the shine back into gold. UK gas prices hit record high. BP shares jump after oil heavyweight returns $8 billion to shareholders.
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The Cyprus crisis has put global markets on the strength but has also took the shine back into gold. Billion is on track for his best -- this year. I'm digging deeper on this it's it is not possible for more on goals mini revival on Sunday night by bullets -- -- correspondent. John -- John gold -- -- Pakistan's the Wendy's gained about one half percent and we will be spent sweet and I animals since November. Does this have momentum the public's although if fate as soon as the crisis and psychosis results well that's. Updated question of the diamond -- has indeed have a terrific week by recent standards and pop -- reflection of just how -- it's done so far this year. Have it would generate for about every dropped to its list of seven months passed in the country. And that in hall -- a reflection of the investor fatigue that we seemed set to end the market the risen -- crisis he just had a people's minds they're focusing more on the US recovery stories such as it is and I don't -- that the political economic recovery could really get some traction this year. What's happened in Cyprus has really reminded people that viewers and is not in good shape. That just a lot of risks that it decentralize the currency markets and indeed the -- the financial market. This classic safe haven but let's hope by gold has come back yes absolutely. Some people are sensitive gold again as a safe haven and that has sun spot of running this week that it is this is a sudden you're bucking the goal is it just short covering. Well it's it's kind of tough to say what the interest in things that. We picked up on this week is that the European -- just about been speaking to haven't seen a huge increase in physical demand for the metal in fact they've been telling me that. The little uptick in price is -- has stimulated some scrap supply back to the market which suggests that adamant that we not seeing the kind of rule it's. Panic within the European -- -- -- that we we saw perhaps in 20102011. A lot of the big gains have happened in in an often in trading European house in all the what's -- the US markets coming in. And which suggests that a lot of those and have inspectors. Sold well political hurdles let's start with outside -- me being the next. Well to be leveled at least in the looking has been the that they and they are behind it which -- around about 1620. Close above that level is rhapsody volatile difficult this team. To then move class attitude to challenge. Resistance levels that's. There are few weeks averages convection around the the 60506060. Level. And we have the 200 -- -- because -- out here 1665. Those those areas that that people are looking at the sixteenth when an apple because of a thing is Michael to China. I and well. On the downside I should not be able to take -- about sixty forensic. Well 16100 it when itself back to some kind of support for gold and then that we have and I that we have the the -- that we so recent it 1555. But I that we have very solid support around the 152515. Cents a level that is that the long terms for difficult and that should -- and. -- Time thank you very much. But on -- -- top of the day -- -- spot gas pricing is -- to a record high up to one of -- me gas and -- pine plains suddenly shut down. You can Belgium quite plain clothes and unexpectedly due to a water pump failure. This along with a prolonged winds up on supply interruptions from Norway. Means the UK could run out of stored gas as soon as April 8 that's according to calculations. Done by Reuters. I'm staying with and OJ oil had to -- BP has announced it will it's an eight billion dollars to shareholders boosting shares today but almost -- percent. Myself today until this week be sure to tune in to save time every -- and expect the market pulse. To find that was moving in the markets and why I'm -- media about this influx of.
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