FX & CFD trading involves significant risk
Today, gold prices have stabilized, after yesterday, they fell to a three-and-a-half month low, which was due to the support of growth stocks, as well as the background of progress in the negotiations for "fiscal cliff" in the United States. At the same time, the impact on the price of gold had published German data, which was better than expected.
Note that in today's trading European shares reached a new high for the year, the euro peaked at 7.5 months versus the dollar.
Also note that this year, the precious metal is trading in line with the market share, and
seeks to capitalize on the weakness of the dollar, which makes assets cheaper for holders of other currencies.
Analysts say that the quick resolution of the financial crisis may in the long term, have a significant effect on the price of gold, as it would undermine the hope for the metal as a safe-haven asset, and will increase interest in other assets.
In addition, the weakness in gold prices in recent weeks has been called the resumption of physical purchases, and especially in Asia. According to the demand for gold in India and in China this week was above average demand, which is celebrated during this time of the year.
February futures price of gold on COMEX today rose to 1673.20 dollars per ounce.
|remaining time till the new event being published|
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.