The gold price has finished its descent. After the yellow Precious metal to $ 1,308.07 per troy ounce (31.1 grams) on 28 January was slipped in 2011, was able to recover gold felt. Thus, the gold price climbed over the mark of 1,360 dollars and reach at 1,366,03 dollar is a multi-week high.
Some investors had sold part of its gold stocks after the precious metal had climbed to a record level of $ 1,432.50 per ounce on 7 December 2010. Gold, however, are optimists believe that the macroeconomic situation, the geopolitical uncertainty and the diminished attractiveness of paper money would continue to speak for a rising gold price.
central banks, might be able for the third year increase in a row, their gold stocks, predicts the German bank. Such an increase series had a repeat of the 1970s. According to a survey by the news agency Bloomberg, the analysts surveyed expect that the gold price in 2011 should climb to $ 1,620 per troy ounce.
Technical analysts are forecasting but also an initial rise in gold price. Thus, the gold price on the 150-day moving average has rebounded to the top. 27-28. January 2011 affected the development rate, the average line. Since then it has again gone up with the prices for the yellow precious metal.
The price of gold rose from 1096.90 to $ 1418.22 per ounce between 4 January and 31 December 2010. This gold had risen to $ 321.32 and experienced an increase in value of +29.29 percent.
The low interest rate policy of central banks is one of the main causes of the robust gold price. It appears that the interest rates in the U.S. at 0 to 0.25 percent since December 2008. In the euro area is the key rate of the European Central Bank (ECB) at 1.00 percent since May 2009.
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