Sharp rise of gold price taking place in the market — Gold price rebound to a new level in which gold price at Apr 25, 2013 13:33 NY Time recorded a rise by 2.28% to reach the level of $ 1464.60 USD/Ounce of gold, Gold returned back to the right track after a decline in the US financial data and china.
i think there is a movement in the market for the safe heaven again but the demonstrator over gold market, will have another word, in which i expect there is a gaining profit will take place tomorrow in the market, the sudden rise in gold price came as a natural action for the negative data released from U.S.A, china and Germany.
The comex market was the first market record the rise then followed by the spot market, small investors wish for gold price to rise back again to overcome their previous lose, but after news about the central bank of Russia, turkey and China is going to buy gold in the near future as a reserver i think that they will had another word in gold price.
USA economy which get better in the last few month, we watch a fluctuate again the issue which could support gold price, USA economy in the near future will watch a rise, which could also had another word in gold price.
Tip for forex trader : in today session for gold we will focus on the buying, but what expected for tomorrow we will watch a decline so i concede that gold price in tomorrow session we will focus on selling gold to gain more profit.