Gold price expected Scenario for 20 – March, 2013


Gold price expected Scenario for 20 – March, 2013, Gold price closed on 19 of march recorded $ 1612.80 USD/Ounce of gold by a rise equal to 0.44%, gold will starts the early hours of trading in Asia by gaining profits, so it is expected to watch a decline in gold price by the beginning of the day because of selling process expected for gold to gain profits, after this we will be waiting for any information from cyprus, if the information came negative we will watch a decline in Euro infront of the US dollar and the Yen, so we will going to watch investors rush to buy gold as a safe heaven to escape from currency war.

If the Euro area announced positive data about crisis in Cyprus so we will watch the continue of gaining profits, which will lead to the decine of gold price, although there is another factor the Federal Open Market Committee which will announce a report on wednes day market could watch stability and a slight decline in gold price on wednesday until the announcement of the report, some investors expect that nothing will happend related to the US budget so gold will not affect a lot, but if the expectation about the Federal Open Market Committee came with any negative data we will watch a rush in buying gold in the world as a safe reserver.