Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should seek the relevant advice.
Daily Resources Overview
Gold pricesare modestly up in late-session U.S. trading Wednesday, after scoring asix-month high overnight. There was some more safe-haven buying interest amid still wobbly U.S.and world stock markets. However, the main feature today was chart-based buyingamid a much-improved near-term technical posture. The yellow metal is nowclosing in on psychological resistance at the $1,300.00 level, which if clearedwould attract even more speculative buying interest. Meantime, silver priceshit a five-month high today. February gold futures were last up $3.00 an ounce at$1,284.30. March Comex silver was up $0.07 at $15.61 an ounce.
European and Asian stockmarkets were mostly down overnight. U.S. stock indexes are firmer in afternoonNew York trading. For the year 2018, the U.S. stock indexes lost around 5%,which is the worst performance in 10 years. This is also attracting some flowsfrom paper assets like stocks into hard assets like gold and silver. Global equities reacted negatively today toweak economic data coming out of China, the world’s second-largest economy. TheCaixin manufacturing purchasing managers index (PMI) fell to 49.7 in December,showing contraction in the sector (below 50.0) for the first time in a year anda half. There was also some weaker economic data coming out of the EuropeanUnion, to also un-nerve traders and investors. Lingering concerns about the U.S. government shutdown that is well intoits second week, and about the monetary policy of the Federal Reserve inthe coming months, are also weighing on trader and investor sentiment to startthe year.