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No Touch Binary Options Assets for Oct 6-10: Gold, Silver

No Touch Binary Options Assets for Oct 6-10: Gold, Silver

After the dollar reached new highs on Friday gold futures fell below the $1,200 level for the first time this year. On the Comex division of the New York Mercantile Exchange gold for December delivery hit a low of $1,190.30 per troy ounce. For the week Comex gold prices lost 2.14%, the fifth consecutive weekly drop.

It was a similar story with silver with prices dropping 1.3% on Friday to settle the week at $16.82. For the week the December silver futures lost 4.26%.

This coming week the Federal Reserve will release minutes of their latest meeting. If the minutes contain suggestions that interest rates will be raised sooner than expected then the dollar will likely strengthen and the price of precious metals will drop even further.

However, it is fairly difficult to guess how far prices will fall so a no touch binary option is probably the appropriate trade. A no touch option allows you to choose the direction an asset’s price will take but without the need to pick a target level.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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