2011-10-22

Gold Price Surges as Europeans Prepare to Fire up Printing Press

The gold price spiked toward $1,650 per ounce Friday, rallying on the back of weakness in the U.S. dollar and on speculation that European leaders were prepared to print over a trillion dollars to prevent a systemic crisis. Ministers from all 27 members of the European Union will meet tomorrow to discuss how to bolster market confidence in the integrity of its banking system. Stock and commodity prices moved higher across the board with the $31.90 rise in COMEX gold futures accompanied by a 5.1% rise in copper and a 1.7% gain in crude oil.

Earlier this week, the gold price and broader financial markets received a boost from a report by The Guardian that European policymakers agreed in principle to expand the EFSF to €2 trillion. However, officials later refuted the report, placing renewed pressure on stocks and commodities.

As for the impact of the euro zone crisis on the gold price, analysts at Bank of America Merrill Lynch noted that the gold could face further headwinds in the short-term if broad-based liquidation resumes in the markets. However, the firm also asserted that “looking further out we maintain our 12-month price target of $2,000/oz, as the global macro economic backdrop remains supportive.”

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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

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