Gold Price Drop Lower On Speculation Unemployment News In US

















The correction in the gold market continued with a USD 12 per ounce drop. Now in US bank and report is speculated that the US unemployment rate is better enough to sell gold and buy into share market. Due to this action gold price is drop fast but US share market did not bounds up strongly.

This may likely due to not mach investor follow or buy the US bank speculative on unemployment news. They know the big buyer China and India buying gold in November till now still did not get their gold yet. China and India is buying gold from US so this situation will cause investor to think that the quantity of gold stock in US it is right? By speculated the unemployment news, in US have cause some selling of gold scrap so this may help US to restore back some physical gold.

Gold price had drop below the level during the Dubai news roll out and I think the panic selling likely to continues till end of this week before a bounds up show in gold price. The buying momentum in Asia still strong and retail gold price in Malaysia still at RM150 per gram for 999 gold. I think after this speculation end gold price may bounds up to continues the rally to USD 1,300 per ounce lever so keep your gold and buy gold in ever dip in price.

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