Showing posts with label UKX. Show all posts
Showing posts with label UKX. Show all posts

Top Stocks To Buy Now - Gold rallies on dollar pullback, Greece

Top Stocks To Buy Now - SAN FRANCISCO (MarketWatch) ? Gold futures rallied Thursday, boosted by a weaker dollar and expectations that central banks will maintain loose monetary policies for some time.
/quotes/zigman/660065 GCJ2 1,775.00, -11.30, -0.63%

Gold for April delivery GCJ2 ?advanced $16.30, or 0.9%, to $1,788.20 an ounce on the Comex division of the New York Mercantile Exchange, trading near session highs.
A day earlier, the metal settled at $1,771.30 an ounce, the highest since mid-November.
Bargain hunters stepped in during the prior session as the metal had eased following disappointment over Chinese data and fading optimism about Greece?s bailout deal.
Open interest, or the number of futures contracts outstanding, has picked up from a month ago ?which helps underpin the technical improvement? of the metal, said George Gero, a vice president with RBC Wealth Management in New York. ?We were looking for ($1,800 an ounce) by June, perhaps we may see if sooner,? he added.
Gold last topped $1,800 an ounce in mid-September after hitting a record $1,891.90 in late August.
Gold?s move! higher Wednesday ?was a reminder, if markets needed it, that central banks are set to remain in accommodative mode for some time to come,? said Michael Hewson, senior market analyst with CMC Markets.
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Top Stocks To Buy Now - Crude oil continues to climb

The price of crude oil has risen about 15% since the start of the year, fuelled by rising tension over Iran and the prospect of improved global growth.
He said the dovish tone from the Bank of England on Wednesday, last week?s stimulus from the Bank of Japan and a new long-term refinancing operation from the European Central Bank next week will increase money supply and underpin gold prices ?for some time to come against most [Group of 10] currencies.?

Top Stocks To Buy Now - Upside targets: $1,800, then $2,000

?The key level on the upside lies at the November highs at $1,801 and if we can push above here, then the record highs last year will come back into view, with the likelihood we could well see levels above $2,000 an ounce within the next 12 months,? said Hewson, in e-mailed comments.
With Fitch Ratings earlier this week lowering Greece?s credit rating, ratings agencies are debating whether to take the same step of further downgrading Greece and rate it as a ?selective default,? analysts at Commerzbank said in a note to clients.
Greek lawmakers also need to ?swiftly rubber-stamp? reform measures, while at the same time it isn?t clear how many private bondholders will agree to the country?s agreed haircut, they added.
?The sovereign-debt crisis is thus likely to keep the market on tenterhooks for some time yet, which should benefit gold,? the analysts said. !
Gold futures also got a boost as the dollar fell versus most major rivals.
A weaker dollar is beneficial for gold and other dollar-denominated commodities as it makes them cheaper to holders of other currencies. The dollar index DXY , which compares the U.S. unit to a basket of six currencies, fell to 78.083 from 79.207 on Wednesday.
The euro EURUSD ?gained against the greenback after the Ifo Institute?s gauge of German business confidence rose more than forecast for February, and the shared currency earlier broke through resistance at $1.33 to trade above $1.3340, its highest against the dollar since mid-December. Read more.
Among other metals, copper for March delivery HGH2 ?pared losses, down 2 cents, or 0.5%, to $3.81 a pound.
Silver tracked gold higher, with the March contract SIH2 ?building on earlier gains and rallying $1.20, or 3.5%, to 35.46 an ounce.
Palladium turned higher, with platinum adding to earlier gains. Platinum has had steep recent gains on the back of a labor strike called at a top mine in South Africa.
Platinum for April delivery PLJ2 ?rose $4.60, or 0.3%, to $1,725.40 an ounce. March palladium PAH2 ! < /span>?rose $1.70, or 0.2%, to $719.45 an ounce.
Wednesday saw platinum?s first settlement above $1,700 since late September. For palladium, a settlement of $717.75 an ounce was its highest in five months.

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