Gold price declined and gaining profit take place as we said yesterday, gold price began by a rise equal to 0.89% to reach the level of $1,472.25 USD/ounce of gold in the early Asian trading.
Europe and USA action in the market
Gold price by the beginning of the trading day at Europe and USA,which they had another word for gold price, we can say it was the beginning of gaining profit process, lead to a decline in gold price by 0.70% at 13:49 NY Time in the spot market to reach the level of $ 1457.90 USD/Ounce of gold.
Gold price by the end of the session of April 24, recorded $ 1431.50 USD/Ounce of gold, then gold price on 25 of April recorded an enormous rise to reach the level of $ 1468.20 USD/Ounce of gold so it was expected to see gaining profit process take place in the market.
Gaining profit was expected
If you are gold trader so you will be aware by the gaining profit process and how it take place in the market, but if you are not or a new gold trader, you should read the following few words carefully, gaining profit is a natural process in any market ( not only gold ) when gold price rise suddenly to unexpected level, there is two kind of people works on profit gaining, first one the people who want to gain profit shortly when gold price rise for no obvious reason, the second type of people who made technical gaining profit ( mostly they are big investors) for sure they want to make profit and the second reason is control gold price.
How to avoid lose during gaining profit
when gold price rise rapidly be sure that, the next step or action in the market is gaining profit, theirs two way to avoid losing during gaining profit, the first technique is to move with the selling wave but early, the second technique is to keep away from the market during gaining profit because in the near future gold will return to the average level of it.
What is expected for gold price?
The recent weakness in the U.S. dollar provided support for gold price. Yesterday, the pair traded at the height reached to the level of $1469.18 USD/ounce of gold, after the upward movement exceeded the first barrier, so it was clear to watch gaining profit process, but what will happend after the gaining profit we should watch the market, the market of gold today is declined but from personal point of view, i can say gold price will rise by the next week, i had reasons to say this word, which are, after the European stocks fell during trading on Friday, ending a wave of height, which lasted for five consecutive sessions, affected by U.S. data showed GDP growth less than expected during the first quarter of the year, The data released by the U.S. Department of Commerce today’s economic growth by about 2.5% during the first quarter of this year, while the forecasts for GDP growth rate was 3%.
The German central bank – Bundesbank – Health news about the report, which sent to the boss “Jens Weidmann” of the German Constitutional Court to criticize the European Central launch of the program of direct cash transactions.
Shares in the major French oil company “Total” with a 1.4% decline in profits for the first quarter as a result of declining oil production and prices.
In Spain, the government announced today expected to increase during the economic downturn this year, as the delay time frame to achieve the budget deficit in the line with EU limits.
The benchmark “FTSE” British lower at 6426) – 17 points), and the index “DAX” German to 7815 (- 18 points), while the decline in the index “CAC” to 3810 (- 30 points).
The return to the safe heaven
I am not predicting, i am talking about the history of gold market, every time we watch a fluctuate in the global market, we found investors head to gold as the safe heaven, so we can expect that according to an overlook on the market we are waiting for the rise of gold price by the beginning of the next week, gold price could reach the level of $ 1465 USD/Ounce of gold on monday.