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Record flows of gold at Sibex

On the Sibex market there were on Friday record tradings on the gold market, the number of SINGOLD contracts signed until 18 :15 being over 8,000 with one ounce dimension, which represents the equivalent of almost 250 kg of gold, a press release of Sibex announces.

According to this record the number of investors's exposure on gold got triple, the total of open positions for this symbol being over 3,000 only for September.

The interest came as a result of important variations of the quotations, together with the evolution of foreign markets. In London, the price of the metal went up almost amazingly in the context where the worries about the slowing down of global economic growth fed the demand. Later, the precious metal went down in New York as the dollar went up and « cut » the demand for alternative investment and determined the investors to sell after the price went to a record. In Sibex, the quotation for October started the day on the plus, the growing trend calming down in the afternoon and getting on the negative trend.

At 18 :30 the gold quotation went down with 4.6 dollars in October and lost 10.6 dollars on the December quotation.

According to Sibex, the record transfers on the gold market led to the best volume for the month, with 30 minutes before the closing of the session – the number of signed contracts being over 13,100 with a value of over 53 million lei, a total very close to the record for this year.

The speculations with Dow Jones were very intense, the futures quotation of the best known indicator in the world going down. The number of DEDJIA_RON contracts signed before 18 :30 was 2400. The drops came as there was correlation with the American stock exchange where futures and the New York stock exchange had big drops, the worry being due to the debts Europe had and the possibility of their acceleration thus « covering » the plan for the revival of the American market of work, presented by president Barack Obama. At 18 :30 the Dow Jones for September went down by 335 points and that for December by 371 points, those selling getting big profit.

The single European currency went down against the dollar, the depreciations being aggressive. In September the euro lost 1.72% and in December there was a similar drop, the number of contracts being of almost 700. The dollar went up against the euro, the single currency going down to the minimum of the last six months, as there were speculations that the Central European Bank would reduce the interest rate. The dollar indicator went to the biggest weekly increase in August 2010 after president Barack Obama offered details about the value plan of 447 billion dollars for the work market acceleration.

DESIF5 was on the minus on Friday, the drop for September being 3.01% and that of December of 2.94%. The DESIF5 volume was over 1,400 contracts.

Sursa: http://www.actmedia.eu

Tags: contracts being record number market sibex euro