Gold prices rose on Thursday, to record the precious metal with his arrival in 1643 dollars per ounce Mkaspa early maintained, ending four days of losses, after he promoted an auction of the bonds Spanish euro demand for asset-risk such as stocks and commodities.
According to the British news agency Reuters that “the price of gold in the spot market rose 0.1 percent to 1643.70 dollars an ounce, while the contract rose U.S. gold futures for June delivery $ 4.90 an ounce to 1644.50 dollars.”
The agency added that “that the price has been moving in a narrow range, rising bond yields Spanish long-term compared to the previous auction in January, with the failure of the precious metal to continue the gains made earlier in the session.”
The Spanish Treasury has issued bonds worth 2.5 billion euros (3.3 billion dollars) for two years and ten years on Thursday near the maximum level of the target.
The price of gold fell Wednesday, extending losses for the fourth day with the euro was pressured by the continuing debt crisis of the euro area, where he scored about 1646.
The price of gold has seen stable Tuesday to reach over $ 1,650 an ounce in Europe with the rise of the euro to its highest level during the session against the dollar and stock markets continue their gains after the success of the Spanish bond auction.
Analysts expect a rise in gold this year, although many say he is likely to recede in the short term gold.
And will last many global markets in the search for an alternative to the U.S. dollar, “weak”, with some markets went toward keeping the yellow metal to a strategic reserve their central banks, instead of the dollar, which contributed to strengthening the demand for gold as a safe haven.
It is noteworthy that he is expected to continue rising with the price of gold rush of investors to the yellow metal safe haven, and speculation high rate of inflation in the United States because of printing more dollars to finance the economic stimulus plan.