Gold price return to fluctuate sharply after a rise recorded yesterday by 2.50%. The rise of gold price yesterday broke a seven consecutive session of decline.after gold price reached it is lowest level ever. Burgin hunter returned to the market of gold and they bought in a process of technical buying, we witness today a decline in gold price by 1.16% at May 21, 2013 07:38 NY Time to reach the level of $1377.90 USD/Ounce of gold.
We are watching now a gaining profit to over come the high lose of the market in the past few days, but we could watch a rise by the beginning of trading in New York market. Gold price will reach a stability by the beginning of May after the Federal meeting, we will be aware by the Summer deliberative trading.
If New York investors decide to continue the gaining profit, we will watch another decline in gold price. But by the rise of the US Dollar today we can get an indicator that gold price will continue to decline, USD dollar recorded a rise by 0.27 after the sharp decline of yesterday. There is a personal expectation that we will watch the continue of the rise of US dollar and a decline in gold price. the decline of gold price could lead to enter of burgin hunter by the end of the the trading session.