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Gold prices are rising due to increased demand for bars and coins after the fall in prices to two-year low yesterday.
Since the beginning of the year, spot prices have decreased by 18 percent after 12 years of growth, which led to high demand for physical precious metals.
Premiums for the gold bars in Singapore to spot prices in London rose to a maximum of 18 months of $ 1.70 per ounce, but demand in the largest consumer of gold in India is surprisingly low, despite the wedding season. Parents usually give their daughters gold jewelry for the wedding.
Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold Trust on Tuesday fell 0.73 percent to 1.145,92 tons. Market participants fear that the debt-ridden euro zone countries after Cyprus will decide to sell some gold reserves.
Credit Suisse warns that "for a period of one to six months, the risk of lower prices, given the negative trend and neutral fundamentals. We lower forecast for the three months to the negative and expect the price to three months will be $ 1,300."
The cost of the June gold futures on COMEX today rose to 1395.2 dollars per ounce.
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