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05.11.2012 16:22

Gold prices recovered

Today, gold prices updated Friday's low, but despite this managed to recover from the 9-week low as the focus of the market now in the U.S. election.

At the same time, a significant increase in the price of the precious metal was restricted weak stock markets and the appreciation of the dollar.

Note that the outcome of the U.S. elections are important because Barack Obama favorably consider continuing the program of incentives, while Republican rival Mitt Romney is expected to act not in favor of further easing. Team Romney is skeptical of such a policy, and is unlikely to re-appoint the head of the Federal Reserve Ben Bernanke for a third term in 2014.

At the same time, Obama's victory will lead to a further increase in gold prices, which is caused by expansionary measures.

In addition to monetary policy, elections have consequences for financial failure in the U.S., which is based on reducing the cost of $ 600 billion and tax increases on January 1.

December futures price of gold on COMEX today rose to 1683.30 dollars per ounce.


Market Focus

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  • Eurozone: Consumer Confidence, January -4.9
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