Gold price ended the Asian trading session today on a decline by 0.41% to reach the level of $1380.70 USD/Ounce of gold. Then the fluctuate series starts to take place in the market. it began by a correction movement for gold price in the Spot market May 28, 2013 11:22 NY Time by a rise equal to 0.01% to reach the level of $1386.70 USD/ounce of gold.
The U.S. Dollar starts the trading today on a sudden rise by 0.55, for sure it affect gold price, but for the first time we watch an immediate fluctuate in the market. In which gold price take a rise and a decline in less than a minute, until we watch a stability on rise equal to 0.49% to reach the level of $1393.10 USD/ounce of gold.
But why gold price record this rise? gold price starts to rise after a decline in the Japanese stock market, also gold price seems attractive for the investors, they assumed that it is the perfect time to get in the market to buy gold.
but after a while gold price returned to decline again. In which gold price May 28, 2013 13:19 NY Time (spot market) return back to decline by 0.26% to reach the level of $1382.70 USD/Ounce of gold in the spot market.
What we see is an indicator for unstable financial situation expected. For investors they need to take a side away from the market. Due to the narrow deliberative trading range. But for you as an investor you want to get inside the market today you need to follow the market flow. but you had to think to keep away from the market today.