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08.11.2011 16:51

Gold rose

Gold grows against the background of maintaining a high investment demand for gold bullion because of financial instability in countries of the eurozone. The increased demand for gold on the eve of Germany's leadership led to the statement that the gold reserves of the Central Bank may not be used to restore financial stability in the euro area or as a "foundation" of the new European Financial Stability Fund. Central Bank of Germany is the second largest after the United States holder of gold in the world. Gold reserves of the Central Bank of Germany exceeds 3.4 tonnes and up nearly 75% of the reserves of the country.

The dollar index for the six major world currencies on the eve established at around 76.962 points (the lowest figure for the five trading days), which further ensured profitable purchasing gold on COMEX.

Investment demand for physical gold before also increased significantly. Thus, the assets of gold, held by ETFs SPDR Gold Trust, which is the world's largest holder of gold among investment institutions, November 7, increased by 10.6 tons and was officially made a mark that is 255.7 thousand 1.255 thousand tons of this figure exceeded for the first time in two and a half months (after 23 August).

Today, December gold futures on the COMEX traded in a range 1787,1-1796,4 dollar / oz. Interest in buying gold somewhat weakened after the eve of his quotes for the first six weeks are very close to the psychological resistance level of $ 1,800 / oz.

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