What is expected for Gold Price?

Gold price continued the trading through on Thursday and Friday on weak evidence and a downward curve, to close on Friday at the level of $1360.20 USD/Ounce of gold by a decline equal to 1.85%.
We have witnessed a decline in gold price for the seventh straight session, the longest losing streak for gold price since March 2009 after declining holdings of funds, exchange-traded funds to its lowest level in 4 years. At the time investors headed to Stock market because of the high Fluctuate of gold price.
Many of investors in gold starts to reduce the possession of the precious metal, Some investors said that they will never buy gold even if gold price reached to  $800 USD/ Ounce.

In a report, the World Gold Council said on Thursday that investors did not buy enough gold during the first quarter, even the big investors did not buy enough to offset outflows from ETFs. The total demand for gold in the world 963 thousand tons in the first quarter, down by 13% compared with the same period of last year.
after all i said if you expect a good news about gold it is your personal problem.

There were signs of weakness of gold over the past few sessions. Gold prices have fallen this month by the largest proportion by about 7.91%. Since today is the last day of this week, I believe that the decline will continue during the trading of the next week because of the global financial situation. It is expected for gold prices that the trading of the next week will witness a wave of landing, which is expected to be short-lived amid anticipation by a new economic data.

It is expected a decline in the demand for gold significantly over the next few months. ETF decreased by 16% to 2214 tonnes since the beginning of the year also SPDR Fund holdings decreased by 23% since the beginning of the year. Therefore I recommend for you to forget about investing of gold for the next few session until gold price witnes a stability point.

Comments

Post a Comment

Popular posts from this blog

Gold edges up on weaker dollar, dovish U.S. Fed policy bets

Image
 Gold edged higher on Monday, helped by a weaker dollar and expectations that the U.S. Federal Reserve will reiterate its dovish monetary policy stance this week. Spot gold was up by 0.1% at $1,943.58 per ounce. U.S. gold futures rose 0.1% to $1,950.10 per ounce. “Gold is firm on the basis that the Fed could adopt a further dovish message with respect to average inflation targeting,” said Michael Hewson, chief market analyst at CMC Markets UK. “If you want to have a policy of average inflation targeting, you’re going to have to go into detail as to how you are going to arrive at that particular outcome.” The dollar retreated on Mond ay, bolstering gold’s appeal for investors holding other currencies, ahead of the Fed’s policy decision due on Wednesday. “If inflation forecasts remain at 2% or below, this could offer gold a tailwind as the zero-yielding metal thrives in a low-interest rate environment,” said FXTM analyst Lukman Otunuga. Market participants are also wai...
Read more

For the gold price, two outcomes are possible.

Image
For the gold price, two outcomes are possible. First is a return to or near the April low ($1,277.40). Second is a drop to a lower low, $1,240 - $1,260. Yet a third possible outcome is that the June and December lows were not a double bottom and one further drop may come. I account that the least likely, and look for a low here by the end of the week, but I'm no more'n a nacheral born durnd fool from Tennessee, so what do I know?   You'd think that an institution charged with promoting the gold industry would produce reports that at least cast the best light on gold's prospects. You'd think wrong, if you're thinking about the World Gold Council. They've been negative on gold for, oh, the last 14 years or so. Today they issued a report that contained a nugget about Chinese business using physical gold as collateral for bank credit ($40 bn worth) but they managed to tease a gloomy forecast even out of this inventive monetary use. That and bad ...
Read more

The price of gold advanced as high as $1,603.40 per ounc

Image
The gold price broke out to a new all-time high above $1,600 per ounce Monday morning, rising for the eleventh consecutive trading session. The price of gold advanced as high as $1,603.40 per ounce before backing off to trade just the $1,600 level. The yellow metal gained on the back of a surge in borrowing costs for Italy, the latest European nation to see its bond market come under heavy selling pressure. The lack of a deal to raise the $14.3 trillion debt ceiling also helped boost gold prices. The eleven-day rise in the gold price is the longest winning streak since January of 1980. The gold price delivered another noteworthy performance last week, climbing 3.2% on its way to a series of fresh record highs. With Monday’s advance, the gold price extended its monthly and year-to-date gains to 6.6% and 12.5%, respectively. Last week’s two-day Congressional testimony by Chairman Ben Bernanke on the economy and monetary policy revealed that the Fed remains open to the...
Read more