Gold price watched a rise by 1% in the trading session of 29, April- as the US dollar’s decline encouraged investors to buy back the Gold, after the fall in prices to their lowest levels since January 2011 earlier this month, the issue which lead to a rise in gold price, Spot gold price market record in the session rise to reach the level of $ 1477.51 USD/Ounce of gold by a rise equal to 0.9%.
the wave of rise was broken by technical selling process came from some investors to control gold price, the issue which leaded to a decline of gold but in the positive area in which gold price in the Spot market recorded at Apr 29, 2013 13:32 NY Time gains by 0.33% instead of 9.7%, all of this fluctuate in gols market was, due to the technical selling process.
Gold price is a market of politics and economy too we can see that, Fed may decide to continue in fiscal policy too lax during its next meeting. the meeting which could give us a scope for gold price during the summer, i think there are not any change expected in the Fed policies, the issue which could lead to a rise in gold price, the decline in gold price could take place in the market if USA want to decline gold price, so there will be a change in the Fed policies and it will lead to a decline in gold price and a rise in the US dollar.
Asia could have a role in the Market if china worked on improving its economy, so we will watch another decline in gold price, but china had a long way to improve its economy.