2013-04-23

Gold Prices Increase 2.6%, But Will it Last?

Despite gold increasing 2.6% to $1,430.70 an ounce over the weekend, many analysts, and investors fear that it will only be short lived before falling further. Although physical buying of gold, especially in Asia continues to increase, technical gold has been spotty at best.
Analysts and investors hope that gold will continue to increase and get back into the $1,500 an ounce range. Tim Riddell who is the head of ANZ Global Markets Research in Asia explains, “We really need to get back into the $1,500s to say that there’s something more substantial taking place. The close above $1,400 may have taken the negative pressure out of gold in the near term. A close below that level will heighten the risks of new lows.”
When it comes to stocks, Seabridge Gold is not having a good day as stocks fell 1.87%% to $10.48. Randgold Resources Limited continues to do well as stocks increased 1.84% to $71.56. In the ETFS sector, Junior Gold Miners ETF Market Vectors saw their stock increase 2.13% while Physical Asian Gold increased 2.12%.

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