2010-09-29

Gold Just Hits Above USD 1,300 per Oz

The euro’s woes continue to be drag on precious metals, while a surge in Ireland’s CDS also points to the uncertainty over the strength of some Eurozone nations. Interestingly however, the impact on the currency markets has been fairly short lived, and muted, with the dollar weakening again heading into the afternoon.

The market certainly appears to have become increasingly bored with the Eurozone story, particularly with the potential for QE2 in the US on the horizon. As such, the markets appear to have established a degree of immunity towards these sorts of headlines for the time being, with gold failing to benefit as much from its “safe haven” status as it has done in the past. That said, gold and silver have nevertheless benefited from buying into dips, with that activity helping to support prices.










So while gold already reach at 1,300, we remain bullish and maintain this level as a short-term target.

0 comments:

Related Posts Plugin for WordPress, Blogger...

KLSE Info Zone

About This Blog

Malaysia Gold Investment

I found Gold Investment in Malaysia is a vary good tools to make profit when the market is down. I also found that Gold Price go up and down more slower compare to share market so to make money in long term, Gold is the right tools. This blog is all about Malaysia Gold Info and the way to make profi

Blog Malaysia

BlogMalaysia.com

  © Free Blogger Templates 'Greenery' by Ourblogtemplates.com 2008

Back to TOP