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Gold Skyrockets To A 2-Month High

By Easy ForexMarket OverviewJun 20, 2014 05:29AM ET
www.investing.com/analysis/gold-skyrockets-to-a-2-month-high-216811
Gold Skyrockets To A 2-Month High
By Easy Forex   |  Jun 20, 2014 05:29AM ET
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EUR/USD
-0.06%
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USD/JPY
+0.36%
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XAU/USD
-0.04%
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JP225
-0.35%
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Gold
+0.54%
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NG
-6.92%
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Currencies

  • The euro continues its bearish trend against the dollar. The pair climbed by 0.7% from 1.3521 to 1.36245 this week, which is the biggest weekly gain in the last two months. Investors are looking ahead at Eurozone current account data coming out this afternoon.
  • The dollar dropped against the yen to 101.81 from 101.95 yesterday. The greenback is under pressure after the Fed’s statement on Wednesday, while today the governor of Bank of Japan Kuroda will speak as the Japanese economy is halfway towards its inflation target.

Equities

Commodities

  • Natural Gas fell yesterday towards 4.58 dollars per mmBTU as Natural Gas Storage came out slightly higher than expected.

Mover & Shaker with FX Options

  • Gold skyrocketed to a two-month high, as the Fed said it will keep interest rates near zero for a considerable time, while the violence in Iraq and the tension in Ukraine boosted demand for the precious metal.

  • Option traders may consider constructing an Iron Butterfly Strategy on the XAU/USD and gain if the pair remains within a range, while the risk is limited to the premium paid.
  • An Iron Butterfly Strategy can be constructed by buying an out the money Put and an out of the money Call, while selling an at the money Put and an at the money Call.

Disclaimer: Forex, Commodities, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you fully understand the risks involved and do not invest money you cannot afford to lose. Please refer to our full risk disclaimer. EF Worldwide Ltd

Gold Skyrockets To A 2-Month High
 

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Gold Skyrockets To A 2-Month High

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