Gold is over $ 1600 recording new gains

Raw Gold

Gold prise rose today in the stock markets all over the world, in which gold price found support as a safe heaven after the decline in the US dollar, fears from currency market today starts to increase especially after the rescue plan for Cyprus today, because it will fire up the dept crisis again in Europe.

Gold price used to find support at $ 1560 USD/Ounce of gold, it is the lowest gold price since 8 of March, while its highest price expected in the near future is $1614 USD/Ounce of gold.

on saturday 16 of march, 2013 the European union and International Monetary Fund (IMF) reached a solution by 10 billion Euro, versus the Cypriot banks  had to pay taxes once.

The agreement for the first time in Cyprus showed that fragiel of the economy in Cyprus, for the first time the depositors had to pay taxes to find cash in the ATM machines.

the parliament in Cyprus will vote on the solution, if the parliament did not agree on the solution the banks in Cyprus will close for tuesday to avoid multi withdraw from the banks.

Gold investors will wait for wednesday to know the results of the federal reserver bank summit, while some investors expect the end of buying assets.

Gold price will continue to rise if their is not any positive published on the next few days from USA or the European union.