Gold could break the barriers of 1800 USD!
it is an exclamation for a lot of investors about gold future, gold price yesterday by the end of trading session reached a new level of 1775 USD/troy an ounce of gold due to the movement of central banks to increase the movement of monetary stimulus, by the increase of fears from global inflation and to keep the value of currencies, all of this factor bushed up the gold to record it is highest level in 8 month, gold comes as a preservative for central banks and currencies.
by the absent of important economic data yesterday and the current events related to gold price, global markets of gold watched a stability from in the trading of gold, one of the most important data in the last week was for the federal bank about mitigation policies until the recover of economy and the improvement of labor market.
The federal bank decision of following the mitigation polices was the most important for the US dollar in which make the US dollar decline in front of other six main currencies to a new low level since February 2012 the thing which support gold price rise.
also the Japan’s bank do the same for mitigation polices plus monetary stimulus, all of this reason could make the gold break the barriers of 1800 USD/troy an ounce of gold.