The weakens of Gold price in COMEX

The weakens of Gold price in COMEX

Gold price in Comex, watched a lack of demand on gold futures. Despite the low gold futures price, it recorded its lowest price in three weeks. It was unexpected move for gold futures, a decrease of mergers and acquisitions because of the large scale gold producers conflict with capital and operating costs.

In a normal situation, there already would have been a move of consolidations with the large gold producers (gold production recorded over 500,000 ounces). The low prices was expect to attract a lot of small and medium investors in Gold futures. But for the first time we witness, the Lack of demand from Medium and Small investors in the case of Low gold price.

The main obvious reason behind the lack of demand, is gold producers are struggling with their head quarters about the cost of production and the selling price which controlled by the global market and the central banks.

Most of struggling between the head quarters and gold producers are about gold coast, in which gold producers said that it reached the level of $1100 USD/ ounce of gold.

There was a previous expectation, about gold production to reach the level of $1250 USD/ Ounce of gold before the end of the Year. All of this factor affect the Demand of gold in COMEX.