Wednesday, April 4, 2012

Fluctuations in Gold Price

Spot gold price is still fluctuating. Although the price of gold moved up $ 1.00 in early Asian trading to $ 1,647.10 / oz, but precious metals apparently has not been able to fully restore the losses as much as $ 31.10 on Tuesday .

Market assess the Federal Reserve's last meeting indicated, there would be a further stimulus, unless the U.S. economic growth slowed. The Fed chairman said the U.S. economic growth moderate, and for now there is no urgency to do more monetary easing by the addition of stimulus.

This signal was then dampen the demand for gold as a safe alternative asset investment (safe haven). Correction in gold price occurred as waning expectations of further monetary stimulus. Gold price movements / fluctuations are affected by currency movements, particularly the U.S. dollar.

Gold futures for June delivery on the Comex in New York trimmed 1.4% to U.S. $ 1648.40 per troy ounce at 9:02 pm Melbourne time. Meanwhile, gold for immediate delivery to rolled thin to the position of U.S. $ 1647.38 per troy ounce

Related Post


Post a Comment


Twitter Delicious Facebook Digg Stumbleupon Favorites More