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03.12.2012 16:24

The price of gold fluctuates

Today, gold prices slightly strengthened, driven by corresponding movement in the stock markets, and the growth of the euro. Such dynamics are manifested after the published Chinese data came out better than expected, and increased investor appetite for assets which are considered as high risk. According to recent studies that have been done, both official and private representatives of the country, the activity in the manufacturing sector of China unexpectedly increased.

Note also that the final data of the index of purchasing managers in the production of the eurozone also showed that the activity in November decreased more slowly.

The same time, the value of gold has an impact information from Greece, under which it became known about the details of its debt repayment country, which also helped boost demand for riskier assets.

Some analysts say the long and arduous negotiations could push investors to buy gold as a safe-haven. However, other analysts have warned that prolonged negotiations could harm the precious metals, which can be caused by a huge sale of stocks and commodities.

December futures price of gold on the COMEX is now 1716.30 an ounce.


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