Gold price watched a decline by the beginning of the early Asian trading. In which gold price started by a decline 0.35% by the end of the Asian trading today. Once New York spot market started the decline in gold price increased, but for sure we want to know why Gold price declined?.
Gold price in the Asian trading
By the beginning of the early Asian trading, gold price watched a slight decline by –0.07%, but we watch a surprise by the end of the Asian trading, Gold price recorded a decline by –0.35%. It was the first bad indicator for gold price. Investors headed to buy bonds after it recorded a rise by +106.9 (NIKKEI). Frankly i can say that, if i was one of those investors, I would do the same. We can say that investors head to the stock market, searching for the fast profits.
U.S stock market affect on Gold price
After the rise of U.S stock market, we watch a dramatic move for gold price. in which gold price in the spot market recorded at May 10, 2013 14:48 NY Time a decline by -1.36% to reach the level of $1438.60 USD/Ounce of gold. NASDAQ stock market recorded a rise by +21.29, it was the same for other U.S stock market, we watch a rise in NYSE by +12.37. so again the same dramatic move in Asia traveled to USA by selling gold to buy stocks.
Currency war affect on gold price
After the YEN sudden decline, we watch a rise in the Japaness stock we can say that it is the higher in Five years. it also caused a decline in gold price. The US dollar today record a rise by +0.50 it was a direct reason for the rise of gold price. un announced Currency war between Japan and USA racked gold price, the issue which lead most of investors to the stock market, currency exchange and get away from Gold.