Gold prices rose Thursday in European trade, taking advantage of the recovery of the single European currency (Euro) against the U.S. dollar, which reduced the turn of the negative effects of currency for the precious metal and the demand for spot gold at prices dropping from Asia, after falling oil prices over the three sessions onrespectively.
Where the price of gold today in the spot market by at 10:25 GMT, 1681.75 USD/Troy an ounce / ounce, up by 0.5% in late trading on the previous session.
As gold prices rose U.S. futures delivery month of April / April by 10.90 USD/Troy per ounce is trading at a price of 1683 dollars.
“The initial Hans” Vice President of Bank of SASCO to open positions has fallen dramatically over the last week, which indicates that many unless most of the long positions, which opened above the $ 1700 an ounce in the past month have been closed and this would help the market stability.
The prices of gold since the end of the month of February by more than 6% down from its highest level recorded this year has been affected by a negative statements, “Ben Bernanke,” Federal Reserve Chairman (Central Bank), the U.S., where declined to suggest another round of monetary easing in the United States, during his keynote speech in the U.S. Congress.