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11.04.2012 15:32

Gold steady

 

The value of gold in the environment has stabilized after rising for four consecutive trading sessions, which was linked to fears of investors about the U.S. economic recovery and worsening debt crisis in the eurozone, according to the auction.

The rising cost of precious metal as a safe asset is started after the publication of which turned out worse than analysts' expectations of statistics on the U.S. labor market last Friday. The data raised investors' concerns about the pace of economic recovery.

Added a weak negative statistics from some countries and euro zone government bond yield growth in Spain and Italy.

So, before it became known that the surplus of current account balance Europe's largest economy - Germany - in February rose to 11.1 billion euros against 10.6 billion euros in February 2011. Nevertheless, the data were worse than analysts' expectations, forecast growth rate to 12 billion euros.

In addition, according to previously published data, the volume of industrial production of Germany in February fell a seasonally adjusted 1.3% in monthly terms and by 1.0% in annual terms.

Gold on COMEX has risen in price due to the eve of its investment purchases. Stock trading in the U.S. April 10, 2012 resulted in the most significant drop in major stock indexes this year. Major U.S. stock indicators before lost an average of 1.7%, and the funds derived from the stock market were aimed at the purchase of gold bullion.

At the same time, investment demand for physical gold on the eve of a little weak.Assets of ETFs SPDR Gold Trust, which is the world's largest holder of gold among investment institutions, 10 April declined by about 400 kg and amounted to 286.2 thousand tons 1 - the lowest rate of approximately one and a half weeks.

Jewellers in India on the eve of a nationwide strike ended, which lasted nearly three weeks. Jewelry Stores in the country once again resumed and will be open until at least May 11. From early April to mid May in India to a series of national holidays, during which the population usually actively buying gold jewelry.

May futures on the COMEX for gold today is kept in the range of $ 1652.6 - $ 1661.5 per ounce.


 

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