Gold Futures Trend Upward, Gold Pries Surge January 2012

Gold futures still show an upward trend this weekend. Thus, it is five weeks, managed to record surge in gold prices.

At 10:49 pm Singapore time on the spot market price of gold was at U.S. $ 1755.43 per troy ouncee, up 0.9% on throughout the week. Yesterday, the price of gold was perched at the level of U.S. $ 1,761.18. This is the highest gold prices since December 2 last.

While the price of gold contract for April delivery was not much to record an increase in the position of U.S. $ 1758.40 per troy ounce on the Comex in New York. Yesterday, the same contract had climbed to the position of U.S. $ 1,764 per troy ounce, the highest level since December 2 last.

The increase in gold prices occurred as U.S. economic data and a variety of European debt crisis that still continues. Two factors had led to demand for gold as the safest investment uphill.

"One factor is the primary driver of gold prices last year was the European debt crisis. While investors are getting tired with the conditions there, the uncertainty of Europe is still ongoing," said Jinrui Futures Co., analyst Hou Xinqiang.

Fluctuations in gold prices continues. Tag of the precious metal prices continue rally, up to the highest level since early December last year.

The gold contract for February 2012 delivery on the COMEX, New York, valued at U.S. $ 1,756.7 per ounce Troi (oz), Thursday (2/2). In the spot market, the average gold price was U.S. $ 1750.3 per oz. Although, the price and then ramp to U.S. $ 1,747.6 per ounce, down 0.1% from the previous day's closing price.

Speculation is rising demand for gold as a safe haven, as the still-stalled katungnya Greek settlement of the debt crisis, the trigger price increases.

"The ability of gold to survive than other assets, may be a signal that the character of these commodities as a safe haven recover," said Edel Tully, an analyst with UBS AG as written by Bloomberg yesterday.

On the other hand, the demand for gold from China and India, two of the world's largest gold consumer, at the beginning of this year recorded a significant growth.

On the Shanghai Gold Exchange, the largest physical gold market in China, the price of gold reached U.S. $ 1756.03 per oz. This is the highest price level since December 9, 2011.

Indeed, after a record high in September last year range, following the direction of price movement of gold-risk asset classes. Because the more global investors fled the funds to the U.S. dollar as a safe haven.

Thus, when the news burst on the global economic recovery is indicated by positive Chinese economic data, gold is also affected sentiment Like the rise in other risky assets.

Ariana N. Akbar, an analyst at Monex Investindo, underline, China's manufacturing industry data that positive reinforcement had hoisted the pair EUR / USD. The dollar gold price leverage.

Abdul Azis, Menara Mas Futures analyst, predicted that gold prices will continue. "Gold is testing the resistance level
U.S. $ 1,800, having exceeded the previous resistance, which is U.S. $ 1,750, "he said.

The U.S. central bank monetary policy that the Federal Reserve (the Fed) is pressing the U.S. dollar appreciation, becomes the main engine of rising gold prices. Estimated growth in the sluggish global economy, a safe haven led gold again.

Ibrahim, an analyst at Harvest International Futures, said matching. Predictions, in the first quarter of this golden opportunity in 2012 through U.S. $ 1,850 per oz. "The main cause is still Europe's debt crisis and the policy of the Fed," he said.

Ariana said, this week the gold price trend is still rising, though not great. However, technically, gold is at risk of falls in a day or two. "Stochastic indicators have started to show gold overbought, so it is likely to happen to profit taking," he said.

In addition, if the positive U.S. economic data, gold prices could be depressed again. Ariana predictions, gold moved down to U.S. $ 1,770 to U.S. $ 1,720 per oz.

Category: Gold, gold commodity, gold contract 2012, gold futures, gold prices 2012, shanghai gold exchange