The gold price in 2011 has come into severe difficulties. So the price fell for the troy ounce (31.1 grams) from € 1070.70 to € 968.17 from 3 January 26 January 2011. The yellow precious metal with a minus of € 102.53, or 9.58 percent, the big loser in the financial markets. Only the silver ounce has lost more clearly with a price of 23.48 euros to 19.50 euros (-16.95 percent).
analysts are believe that the improved economic prospects, the gold price burden significantly. Predicts the International Monetary Fund (IMF) to raise the worldwide growth of +4.4 percent for 2011. The recovery of the economy can not be critically examined as 2010. It is already well underway, as is shown by the global stock indices.
addition makes the building strong euro dollar exchange rate of gold prices. Thus, the European single currency climbed from 1.2874 to 1.3756 U.S. dollars from the 10th January 2011 and 27 January 2011. The euro's appreciation in the amount of +6.85 percent is reflected with a negative sign in the Euro gold price down. Gold is traditionally traded in U.S. dollars and accounted for and must then be converted into other currencies using the current exchange rate will be.
good economic data and the positive economic outlook would be to increase confidence in financial markets, the British bank Standard Chartered said in a weekly analysis report of 25 January 2011. The need to hold gold and silver due to the function of a safe harbor had decreased among investors. Was expected for the silver and gold price further weakness.
A possible increase in the benchmark interest rate by the European Central Bank (ECB), the euro has burdened gold development. Sun ECB President Jean Claude Trichet gave an increase in policy rates conversation. The rate of inflation in the euro area is +2.2 percent at present the ECB's target of two percent. Rising interest rates increase on the financial attractiveness of fixed rate bonds relative to gold.
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