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.
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.
Gold prices forecast 2012 to range of $1,645 to $1,730 according Goldman Sachs, We had expected gold prices would continue to rise through the middle of 2012, when we expected rising US economic growth would push real rates higher and gold prices lower. However, with our US economics team now lowering their outlook for US economic growth to 1.7% in 2011 and 2.1% in 2012, we now expect real interest rates will remain lower for longer, and we are now raising our gold price forecasts to $1,645/toz, $1,730/toz, and $1,860/toz on a 3, 6, and 12-month horizon, up from our prior forecasts of $1,565/toz, $1,635/toz, and $1,730/toz, respectively. Net, this revision in effect pulls forward the higher prices we expected on a 6 and 12-month horizon – as US economic growth has been slower, and US real interest rates lower, than previously anticipated – and extends the upward trajectory for gold prices through 2012. Further, the recent escalation of sovereign debt concerns suggests that the near-term risk to our new forecast is skewed to the upside, and we continue to recommend long trading positions in gold.
Gold prices forecast 2012 according JP Morgan upped its forecast to a high of $2,500... "Gold and sugar have potential to run a lot higher. It has been clear for weeks that the prompt CMX gold price has been building in a rising probability of a reflaring of financial crisis, gaining by 9.7% since June 30 as the MSCI World Equity index dropped by 10.1%. The correlation in daily price changes between these two assets has dropped to –0.09 from +0.29 over the prior year. Gold’s correlation against TIPS has doubled to 0.35 from 0.18. Against Italian and Spanish 5-year sovereign CDS prices, the gold correlation has moved to 0.27 and 0.32, from 0.07 and 0.04, respectively. Before the downgrade, our view was that cash gold could average $1800 per oz by year end. This view will likely now prove to be too conservative: spot gold could drive to $2500 per oz or higher, albeit on very high volatility."
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Spot gold edged up 0.2 percent to $1,723.89 an ounce by 0031 GMT, on course for a weekly drop of 3.5 percent, its sharpest one-week decline since late September.
Spot gold rebounded to above its 50-day moving average, but the 50-day moving average is close to crossing below the 100-day moving average, seen as a bearish technical signal.
U.S. gold inched up 0.3 percent to $1,725.
Investors are worried that euro zone nations are spiraling deeper and deeper into the debt crisis, as borrowing costs for France and Spain rose sharply on the backdrop of violentnanti-austerity protests in Greece.
As spot gold posted its biggest one-day drop since the end of September, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, jumped nearly 1 percent from the previous session to a three-month high of 1,289.46 tonnes.
Spot silver gained 0.3 percent to $31.77, on course for a weekly decline of 8.5 percent, its sharpest weekly fall since late September. It dropped nearly 6 percent in the previous session, the biggest one-day fall since Sept. 28.
Gold prices forecast 2012 according JP Morgan upped its forecast to a high of $2,500... "Gold and sugar have potential to run a lot higher. It has been clear for weeks that the prompt CMX gold price has been building in a rising probability of a reflaring of financial crisis, gaining by 9.7% since June 30 as the MSCI World Equity index dropped by 10.1%. The correlation in daily price changes between these two assets has dropped to –0.09 from +0.29 over the prior year. Gold’s correlation against TIPS has doubled to 0.35 from 0.18. Against Italian and Spanish 5-year sovereign CDS prices, the gold correlation has moved to 0.27 and 0.32, from 0.07 and 0.04, respectively. Before the downgrade, our view was that cash gold could average $1800 per oz by year end. This view will likely now prove to be too conservative: spot gold could drive to $2500 per oz or higher, albeit on very high volatility."
Gold prices, gold forecast, gold prices 2012, futures gold prices, spot gold prices 2012, gold prices outlook 2012, will gold prices go in nov 18 2011, gold prices forecast november 18 2011, gold futures prices predictions november 18 2011, Spot silver prices november 18 2011, silver prices november 18 2011
Spot gold edged up 0.2 percent to $1,723.89 an ounce by 0031 GMT, on course for a weekly drop of 3.5 percent, its sharpest one-week decline since late September.
Spot gold rebounded to above its 50-day moving average, but the 50-day moving average is close to crossing below the 100-day moving average, seen as a bearish technical signal.
U.S. gold inched up 0.3 percent to $1,725.
Investors are worried that euro zone nations are spiraling deeper and deeper into the debt crisis, as borrowing costs for France and Spain rose sharply on the backdrop of violentnanti-austerity protests in Greece.
As spot gold posted its biggest one-day drop since the end of September, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, jumped nearly 1 percent from the previous session to a three-month high of 1,289.46 tonnes.
Spot silver gained 0.3 percent to $31.77, on course for a weekly decline of 8.5 percent, its sharpest weekly fall since late September. It dropped nearly 6 percent in the previous session, the biggest one-day fall since Sept. 28.
