19 Feb, 2007
Gold rises above $650
Published: 07/02/2007 12:00 AM (UAE)
ReutersLondon: Gold rose above $650 an ounce yesterday on firmer oil and a slightly weaker dollar, and analysts said it could jump if it holds onto recent gains a bit longer.
Gold broke the $650-an-ounce mark several times last week but profit-taking pushed down prices, which have risen about nine per cent since January 5 when it fell to a two-month low.
Spot gold was quoted at $653.40/$654.10 an ounce by 1052 GMT, higher than $649.00/$649.70 late Monday in New York when it rose about $2 on renewed buying interest from funds.
Solid base"The market has been able to consolidate around $650 which should be a solid base. The positive feeling for commodities over the last couple of days and the ongoing dollar weakness are very supportive for gold," Frederic Panizzutti, Germany-based analyst at MKS Finance, said.
"We will not be surprised if further inflow of investment in gold happens. The longer we can hold the $650, the stronger the base will be."
Oil bounced back above $59 a barrel as the coldest weather of the US winter was expected to draw down heating oil stocks.1 Nov, 2006
Learn how not to lose money on forex
“You've got to know when to hold 'em, and know when to fold 'em”
I want to cover the “fold 'em” part. Most novice traders will probably raise an eyebrow, but knowing how to lose is the key to learning how to win.
So you have studied the manuals and all the courses material available. Incessantly, you have read every word, as quickly as possible. You have wired your $2,500.00 to your broker, you could have sent $3,500.00 but hey, you need to pay the mortgage. You have opened your self-directed account, opting for no forex broker advice. Who needs advice; you have a secret weapon...your trading manual that came with the course. Besides the broker doesn't realize that you are about to funnel money right out of the market, and into your bank account.
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It's Monday morning, you called in sick so you could kick off your forex trading career. Of course, considering the lack of sleep last night, working today would have been hard anyway. You glance through your course material one more time a few minutes before opening bell. You are planning to trade the E-mini today. The bell rings, and you are off. You are looking to trade the opening gap, that’s on page 13. I think you know how it ends… you know because in your mind you made the millions when in fact you lost almost 50% of your investment, only because you didn’t have the proper money management skills. This is the most optimistic scenario, many times rookie traders that dive right into the forex world to quickly and finding them self bankrupt.
So sit down, start learning the market from head to toe and only then start with a mini-lot. My advice to you is always to consult your broker before any major investment or move.
22 Aug, 2006
Forex in the EU
Here are a few facts about the European Union (EU), which caused some kind of a revolution in the FOREX world.
It is a union of twenty-five independent states based on the European Communities and founded to enhance political, economic and social co-operation. It is formerly known as the European Community (EC) or European Economic Community (EEC).
Date of foundation: 1st November, 1993. New members since 1st January, 1995: Austria, Finland, Sweden. For the ten new members as of 1st May, 2004, see below.
Member states (EUR: Euro currency in the FOREX market):
Austria (EUR)
Belgium (EUR)
Denmark (independent currency)
Finland (EUR)
France (EUR)
Germany (EUR)
Greece (EUR)
Ireland (EUR)
Italy (EUR)
Luxembourg (EUR)
Netherlands (EUR)
Portugal (EUR)
Spain (EUR)
Sweden (independent currency)
United Kingdom of Great Britain and Northern Ireland (independent currency)
It is not a State intended to replace existing states, but it is more than any other international organisation. The EU is, in fact, unique. Its Member States have set up common institutions to which they delegate some of their sovereignty so that decisions on specific matters of joint interest can be made democratically at European level.This pooling of sovereignty is also called "European integration".
There are five EU institutions:
European Parliament (elected by the peoples of the Member States);
Council of the European Union (representing the governments of the Member States);
European Commission (driving force and executive body);
Court of Justice (ensuring compliance with the law);
Court of Auditors (controlling sound and lawful management of the EU budget).
Other important bodies:
European Economic and Social Committee (expresses the opinions of organised civil society on economic and social issues);
Committee of the Regions (expresses the opinions of regional and local authorities);
European Central Bank (responsible for monetary policy and managing the euro);
European Ombudsman (deals with citizens' complaints about maladministration by any EU institution or body);
European Investment Bank (helps achieve EU objectives by financing investment projects);
Much of the co-operation between EU countries was about trade and the economy, but now the EU also deals with many other subjects of direct importance for our everyday life, such as citizens' rights; ensuring freedom, security and justice; job creation; regional development; environmental protection; making globalisation work for everyone.
The European Union has delivered half a century of stability, peace and prosperity. It has helped to raise living standards, built a single Europe-wide market, launched the single European currency, the euro, and strengthened Europe's voice in the world.
