The price of gold above the level of $ 1.580 an ounce on Wednesday, after falling during the previous session, when disappointed, “Ben Bernanke” gold markets by not providing any signals on the procedures for fiscal stimulus is imminent. World Bank President also reiterated the position that the federal bank was ready to do more procedures in case the economy worsened, but it did not provide a lot of hints on the timing of such steps.
Gold was particularly sensitive during the past few months for the titles of the Fed, where investors expect further easing to support the alloys, which are Thoita expectations for inflation, the growing spread of printing money as a result.
“The Ed Mir” analyst at INTL FCStone, in a letter (s): “The expectations short-term group the former will be somewhat lower,” and added: “While the facilitation might be expected, but investors are still burdened with the uncertainty associated with not knowing When will be exactly like this. ”
The value of gold has not changed much from $ 1.581.64 an ounce by 2342EDT, after losing about 0.5% on Tuesday.
Gold has increased by about 1% so far this year, after he had achieved an increase of 10% during 2011 with the influx of investors to it being a safe haven to escape from the debt crisis in the euro zone and U.S. debt ceiling crisis. Also lost the gold futures contracts in the United States about 0.5% to $ 1,581.70.
Technical analysts expect that gold will be trading sideways between $ 1,571.16 and $ 1.599 an ounce during the day, as received from the analyst, told Reuters, “Wang Tao”.
Bernanke will address the Committee on Financial Services U.S. House of Representatives later in the day. He said, “Jeremy Friesen,” a strategic commodity in the “Susat Generale” in Hong Kong: “You can look at the certificate that was delivered on Tuesday as a reference to the makers of financial decisions need to do things more to help the economic recovery as the effectiveness of fiscal policy weakens” . “We see that fiscal policy is at the end of a bit now. Which will make it more effective is the financial topics that must be dealt with.” “Politics Maya will remain part of the equation and we are still inevitably loose in a circle.”
Market participants are concerned about what is known as the “financial cliff”, which refers to a sharp reduction in spending and a rise in taxes scheduled at the beginning of next year