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8/7/12

Gold prices flat, but overshadowed correction today?

 MAKE MONEY $ ~ BLOG SINGAPORE. Gold prices moved only slightly today, yet seems to continue the rally the previous three full days. European investors are still concerned with trimming factor ratings outlook by S & P Greek and Italian economic downturns. 

Yesterday, the Boston Fed Governor also stated that the central bank bond purchase program should be launched again in any amount and for whatever it takes to restore the U.S. economy.However, Rosengren not included in the panel of Fed policy makers. He is also well known for easing dovish or pro. Gold futures for December was trading flat at around U.S. $ 1,613.10. Similarly, the spot price of gold is stable at U.S. $ 1610.31 per ounce Troi at 10:16 pm. Today, gold prices may be corrected for the dollar index rose 0.2% appears to the basket of six major currencies. Understandably, the gold price moves against the dollar versus the index. Reuters Market Analyst Wang Tao said, the short-term technical analysis shows spot gold prices may come down to U.S. $ 1,591 today. However, in the longer term, analysts see gold can still move up."Gold remains promising in the second half, with the peak of physical consumption and the U.S. policy of quantitative easing is still visible in the plan," said Li Ning, an analyst with Shanghai CIFCO Futures. He added, technically gold is also positive because the weekly chart shows price moving up since July. Commonwealth Bank of Australia analyst Lachlan Shaw also believes the central bank hopes stimulus could lift gold. "In recent months is the price of gold slipped as investors get into the traditional safe-haven assets such as U.S. Treasuries and the U.S. dollar as the European crisis that increasingly intense," he explained.


source: investasi.kontan.co.id
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