Gold Hits Big Surge And Reaches New Highs Today By Golearnforex - Forex Forum

Gold surged ahead again today making new highs after hitting 1,088.50 India's Central Bank bought 200 metric tons of Gold from the IMF. That purchase equates to roughly $6.7 billion, a highly uncommon move by a Central Bank. Oil advanced on the day as well. It is currently holding at $79.50 a barrel.

Global Equity Markets were down Tuesday, although the Dow Jones finished the day nearly flat after giving up 17 points to close at 9771. Futures are mixed heading into Asia and London sessions. Warren Buffet announced today that his company, Berkshire Hathaway would purchase Burlington Northern for $26 billion in a show of confidence in the U.S economy.

In the Forex Markets the Dollar was mixed with the DXY holding steady above 76 for the moment. The RBA raised rates by a quarter point as expected to 3.5%. The AUD was unchanged for the day as the move was already priced in. A number of key data releases are set to print tomorrow in the U.K, New Zealand, and the Euro-zone. However, probably none will be more watched than the Federal Open Market Committee's interest rate decision and accompanying statements.

Upcoming Forex Events for November 4, 2009

USD MBA Mortgage Applications Previous -12.30%
USD ADP Nonfarm Employment Change Forecast -190.00K Previous -254.00K
USD Interest Rate Decision Previous 0.25% Forecast 0.25%
NZD Unemployment Rate Previous 6.40% Forecast 6.00%