THOSE thinking of buying gold jewellery for a loved one this Christmas could consider buying gold contracts instead, given the dramatic collapse in recent days. Gold fell as much as $190 since the 1 December level of $1,750, and currently trades $320 lower than the heights hit in September. Use $1,570-$1,600 as a buying opportunity to hold for a return towards $1,700 next year. Spread Co offers a spread on spot gold of $1,596.2 - $1,596.6.
Aggreko, the global provider of temporary power, will make a trading announcement today. It has recently been selected by Cat International to supply temporary cooling solutions at the new Doha international airport. The share price is up 20 per cent on the year to date. CMC Markets quotes Aggreko at 1,808.08p-1,812.90p.
HMV’s figures out today should be of interest to punters looking at making the most of a quiet week on the earnings release front. Even though the high streets are packed with Christmas shoppers, we are increasingly becoming a nation of agoraphobes – so the outlook could be dire with competition from the likes of Amazon and Ebay. It’s no secret that the high street retailer has been going through difficulty, so will it be able to close the year to the sound of cheer? Capital Spreads quotes £3.8-£4.0.
The Turkish lira has been somewhat stuffed in recent months, as central bank attempts to gobble up the current account deficit take effect. It has rallied by around 25 per cent against the dollar through 2011, but with inflation now running at almost 10 per cent, the country’s economy faces tough challenges. Having the precariously balanced EU as its main trading partner could put a dampener on it achieving that coveted developed country status. IG Index quotes Turkish lira-dollar at $1.8764-$1.8779.