Just maybe there is some fresh money coming in

Gold prices continued to oscillate between gains and losses on Tuesday despite weakness in the U.S. dollar and a broad-based rally in equities and commodities.  The spot price of gold rose to $1,634.28 in overnight trading, but later slid back toward unchanged at $1,626.74 per ounce.  Since reaching a six-week high of $1,642.35 on June 6, the gold price has remained in consolidation mode as investors await the outcome of this week’s Federal Reserve meeting.

Simon Weeks, a director of precious metals sales at ScotiaMocatta, wrote in a note to clients this morning that “Gold has hardly been leading from the front as it’s been seen as a source of cash rather than a currency in its own right – but there are some signs that with ETF inventories on the rise again…that maybe, just maybe there is some fresh money coming in.”

The gold price did receive a bit of support from another disappointing U.S. economic report this morning.  The Commerce Department released Housing Starts data for May, which showed a 4.8% decline to an annual rate of 708,000 – below the 720,000 consensus estimate among economists.


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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

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