Gold drops 2% today

Gold prise is pushed up by the Comex market

Gold continued its losses, down more than 2% today after the Bank recorded “Goldman Sachs” the second quarterly loss in its history, which has undermined the already deteriorating investor confidence and strengthened the dollar.

In the most recent decline in gold trading in the spot market 1.8% to 1640.60 dollars per ounce of gold usually rises due to increased risk aversion, but its association with him to reverse dollar decline.

The price of gold record earlier this month at a record level of $ 1920.30 an ounce, before falling after Switzerland adopted its peg to the euro, which impact directly on the price of gold and helped bring it down.

Analysts expect gold prices will exceed the barrier of  2000 Troy/USD per ounce this year and so on fears of the poor performance of the global economy in general and the European and American in particular.

And continue many of the global markets in the search for an alternative to the U.S. dollar, “weak”, with some markets went toward keeping the yellow metal as a strategic reserve for their central banks, rather than the dollar, which contributed to the strengthening demand for gold as a safe haven

The analysts that gold is rising in nearly ten years may continue to rise over four years, albeit at a slower pace with the decline in inflationary risks by shifting to a more normal economic conditions.

This came after gold prices were recorded last March with a decline reached its lowest level in three months, amounting 1319.13Troy/USD per ounce , due to the decline in demand to buy it as a secure investment, with the dollar’s recovery from the depressed levels.

Referred to as the expected continued high price of gold with the rush of investors to the yellow metal a safe haven, and speculation high rate of inflation in the United States because of printing more dollars to finance the economic stimulus plan.

Bank is the “Goldman Sachs” the U.S., founded in 1869 by immigrant Jews of German descent Marcus Goldman, a bank a wide network of branches in several parts of the world, famous for the bank, which is the largest American investment banks, to provide financial consultancy and managerial institutions economic, governments and wealthy families around the world.