Gold price forecast for 25 – March, 2013

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Gold price forecast for 25 – March, 2013 — Last friday 22- March, 2013 gold price watched a fluctuate in which by the beginning of the trade last friday we watched a rise in gold price to the rate of $ 1615 USD/Ounce then by the beginning of the Euro area trading we monitored a decline in gold price because of gaining profit, after this New York spot market followed the steps of the Euro market to result a decline in gold price by -0.35% , gold price last Friday recorded $ 1609.20 USD/Ounce of gold.

after some negative data came from the Euro zone about Cyprus, we could say that gold price will watch a rise because of expected buying level for gold, as the safe heaven, if gold price rise above the level of $ 1620 USD/Ounce of gold on 25 of March, we will watch the gold between the area of $ 1621 and 1660 USD/Ounce of gold, by the next week, on 25 of March we could watch a rise maximum to the level of $ 1620 USD/Ounce of gold.

Gold price could watch a decline under the level of $ 1600 USD/ounce of gold, if there is any new news about saving Cyprus could announce tomorrow, under the level of 1600 USD/Ounce gold will find a support at the downward area to re watch again the level of 1560 USD/Ounce of gold as the support level, the maximum decline for gold price on the 25, March will be the level of $ 1588 USD/Ounce of gold.