Crude oil prices and the yellow metal is witnessing divergence in performance following the labor market data and consumer confidence levels

بواسطة medianoo بتاريخ الأحد، 9 ديسمبر 2012 | 6:22 م





Prices of basic materials and led by crude oil and major minerals, led by gold variation in performance during the U.S. session, especially in the wake of economic data and developments important that we have seen today by the world's largest economy and biggest consumer of crude oil globally. We have seen today dear reader by the largest economy in the world U.S. labor market figures, which showed declining rates of U.S. unemployment to its lowest level since December / December of 2008 with the arrival of 7.7% in the month of November than expectations that referred to its stability at 7.9% . Let alone showed read the change in jobs except agriculture and the private sector slowing the pace of hiring better than expectations, while shown reading the change in manufacturing jobs lost and jobs are exceeded expectations, the thing that brought a glimmer of hope for the future of the U.S. economic recovery and support successively performance greenback. But showed preliminary reading of the University of Michigan consumer confidence for the month of December / Dec. lower levels of confidence are exceeded expectations, in addition to the fog surrounding how to avoid the activation automatic identification of financial or shelf financial early next year 2013 and who would the U.S. economy to spiral recession does not shops. Especially in the shadow of the continuing struggle between the two camps Republican and Democratic to impose their vision of alternative solutions to reduce the budget deficit in the U.S. Federal for next year 2013, has weighed in the end the risk appetite when investors are seeing this price stability yellow metal higher levels opening after fading losses incurred by gold during trading session today. As for crude oil prices have shown stable lowest levels of the opening, in the shadow of anticipation and caution that limit bets investors on black gold until clearer vision, especially with the weakness of economic activities globally in the shadow of the continued worsening European sovereign debt crisis that weigh on the shoulders of economics old continent The global economy, respectively. And accordingly has seen crude oil prices stable lows opening trade at $ 88.08 a barrel, its lowest level during the day at $ 85.77 per barrel compared with the opening level at $ 86.35 a barrel and reached its highest level during the day at $ 86.92 a barrel, in the promptly at 02:11 pm New York time. On the other showed the dollar index, which measures the performance of the dollar against six major currencies including the euro and the Japanese yen and the pound sterling, rising to currently trade at 80.40 recording its highest level during the day at 80.66 after opening at levels 80.25 and its lowest level during the day when 80.23. The given the price of gold has seen stable highest opening for trading currently at levels 1,702.39 $ an ounce, marking its highest level during the day at 1,705.53 $ per ounce compared with the opening level at 1,700.22 $ an ounce and a female interrogator its lowest level during the day at 1,683.54 $ an ounce.