Gold could break the barriers of 1800 USD!

Gold price technical analysis 17 - June, 2013

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.

 

  • naga

    Why the price variation of gold between the countries? the histroy tren of glod price nowhere comparable.

    • due to the various rate of buying in each country
      for example India is one of the most countries consume gold so the price could be less than the global
      Ghana is the lowest ever in consuming gold, so gold price their is high

    • I believe this happen because of different fx rates between countries

  • Donna Gallagher

    I have a heavy 18k 2.5 oz gold bracelet which is at least 90 years ole.
    Only gold nothing else making up the weight. Would that have the same
    worth i.e. 2.5 oz x 1500 (what the price of the day is at the time) or
    is it different when they have to melt down the bracelet?

    • it depend on the weight of gold nothing more plus the price of the market