Global stocks erase gains of 2012 and the Gold jumps 4%

Gold price technical analysis 30 - May, 2013

Global stock markets lost all the gains registered by the beginning of this year, under pressure from the European debt crisis and the U.S. unemployment data. European bourses were closed and the U.S. and Asian trading week on sharp declines. Where the Dow Jones blue chips 2.7% versus 3.2% for the Nasdaq and 3% for Standard & Poor’s. And closed most of the indicators at the lowest level in 6 months amid fears of a global slowdown.

In the metals markets, currencies, gold jumped by 4%, its biggest gain for a single day in more than three years. The dollar fell against the euro and the yen after a report that the smartest of the weak U.S. jobs in the expectations that the U.S. central bank may need to take further monetary easing measures to boost the economy slowing.U.S. stock marketDow Jones ended the trading session on Wall Street last trading day of the week down 274.88 points, or 2.22% to 12118.57 points, while the benchmark S & P 500 SPX 32.29 points, or 2.46% to close at 1278.04 points. This is the largest decline in percentage terms for the Standard & Poor’s since the ninth of November last year.The Nasdaq Composite Index laced tech companies down 79.86 points, or 2.82% to 2747.48 points.European shares And European stocks closed at their lowest level in six months and may incur more losses after weak economic data raised from the United States and Europe, new doubts about the global economic recovery.

The FTSEurofirst 300 shares of major European companies was down 18.31 points, or 1.88% at 954.74 points, its lowest close since December. The index Euro Stoxx 50 of the shares of leading companies in the euro zone lowest close in eight months, at least at 2068.66 points, down 2.37%.Great fearsAnd increased losses when the market data showed slowing job growth in the United States in May and the high rate of unemployment for the first time in almost a year after a series of surveys to weak factory activity in European countries published earlier.Michel said the Krannberg director at Nofalaaz Private Assets, which is based in Paris and manages assets worth about four billion euros “Data jobs outside the agricultural sector today confirms that the U.S. economy is heading for a strong recovery this year.

He added, trying to avoid stocks that depend on growth in the United States or Europe, of course, because we are not optimistic about the next two years.Currency marketsThe euro recovered from the lowest level in 23 months against the dollar with a turnout of dealers to buy the European currency after falling by 7% in May.The euro rose 0.41% to 1.2415 dollars in late trading week in New York, recovering from its lowest level at which stood at 1.2286 dollars, the weakest since the first of July 2010. During the meeting, the euro jumped to 1.2486 dollars by the talk in the market for cash to facilitate the coordinator of the Group of Twenty at the beginning of next week.The European currency also recorded its lowest level since December 2000 before the Japanese currency registered 95.57 yen before they get rid of the losses and recovering to 96.90 yen in late trading in New York market, up slightly from its level at the beginning of the session.Against the Japanese currency dollar fell 0.28% to 78.07 yen in late trading in New York after scoring during the session lower level reached 77.65 yen, the weakest level since mid-February.Gold jumps 4%It fell in most of the trading week, but he recovered and went up $ 60 from the lowest level in the session as investors buy the yellow metal. The price of gold rose for the immediate sale of 4.5% to 1629.41 dollars per ounce at the highest level in the session before retreating to 1624.20 dollars in late New York trading in the market, its biggest gain for a single day since January 2009.Gold ended the week up 3.5% is the largest gains in the week since late January. And registered futures U.S. Gold for August delivery settled at 1620.50 dollars per ounce high of $ 57.90 and after that rose during the session to a level more than a rise of 1632.0 dollars.And improved the technical outlook for gold after it fell near the key support level at 1539 dollars an ounce, three times in two weeks, but he did not come down from that level at a time.Gold ended the month of May was down for the fourth consecutive month, the longest monthly losing streak in 12 years. And his rise on strong gains gold has increased since the beginning of the year to about 4 percent.Earlier this year, the gold gains 15% after the Fed said in January that he would keep interest rates near zero until at least late 2014 has introduces a new round of economic stimulus or a program to buy assets.  Contrast metal prices The price of silver went up for sale immediately 2.4% to 28.44 dollars per ounce. Among other precious metals platinum price for immediate sale 2.2% to 1440.24 dollars an ounce and palladium rose 0.2% to 609.99 dollars an ounce.In Almkkabl Copper prices fell to their lowest levels this year as investors worried about the outlook for the global economy. But falling prices rebound registered the euro. And ended the decades copper standard for three months in the London Stock Exchange for metals session at 7361 dollars per ton decreased from 7425 dollars at the close on Thursday.

Copper fell for five consecutive weeks. Earlier in the session, the price dropped to its lowest level since December 20, 7301 recorded dollars per ton, and is now a low of about 3% from its level at the beginning of the year.Among other industrial metals, nickel fell to its lowest level in two and a half lead and fell to its lowest level since October.