Gold Keeps Its Positions

At the beginning of the week, we will consider the fundamental background with which we arrived after the weekend. There were many events that had an impact on the Forex market instruments this weekend. Several of the largest oil fields in Libya were closed due to military conflict.

 For all of us, this means a decrease in oil supply. And any decrease in supply causes an increase in quotations, prices for goods, in particular oil. It should be noted how important Libya is for the entire oil market.

According to OPEC reports, Libya produced 1 million 139 tons of barrels per day. And this is not the last place. These data suggest that the closure of deposits can trigger growth in quotations.

This week, the minimum volatility was recorded in the foreign exchange market, as noted by GP Morgan. The markets froze and now a kind of calm. Market players ask the question: why does the stock market grow and gold does not fall? Does the Gold tool have any subtext?

There is no direct correlation between the stock market and gold. Gold is an active refuge. With a significant correction of the S & P500, gold may be in a growing trend, rising to positions 1579.50 - 1600