Gold price movements are expected to sag back on the transaction today. Cause, the biggest surge in gold prices over the last month that took place yesterday (7/25/2012), will trigger a sell-off by investors. In addition, the strengthening U.S. dollar will cut the level of demand of gold as an alternative investment.
For your information, at 9:24 pm Singapore time, the price of gold in the spot market is not much to record changes in the position of 1604.15 U.S. dollars per troy ounce. In the previous transaction, the price of gold moves wildly.
Yesterday, the price of this sleek yellow recorded a 1.5 percent rally. It's the biggest jump since June 29 last. In fact, gold prices had perched on the highest level in three weeks in the position of 1610.57 U.S. dollars per troy ounce.
"To achieve great bull market in gold is still very far away. Linkage between the price movements of gold and U.S. dollar or other currencies are closely related to the supply of one of them. Thus, if the dollar rises and supply does not increase the supply of gold, then gold prices will soar , "said Scott Minerd, chief investment officer at Guggenheim Partners LLC.
Meanwhile, the price of gold contract for December delivery fell by 0.5 percent to 1605 U.S. dollars per troy ounce on the Comex in New York. The last price for this contract is U.S. $ 1606.60 per troy ounce.
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