Gold News: Does gold work as a safe heaven?
It has been a rough ride for gold investors in recent years and the last week wasn´t the exception when gold lost more than 1%
It has been a rough ride for gold investors in recent years and the last week wasn´t the exception when gold lost more than 1%
Since 2011 gold has been in the bearish market. Now, after a strong week for the yellow metal where the price increased to over 4%, some analysts are beginning to be bullish on gold for 2016.
As tensions rise between Saudi Arabia and Iran, and China’s economy remains stagnant, gold is off to a good start in the new year, as it has risen to $1,081 an oz.
Spot gold increased by 0.5%, to $1,073.60 an ounce, after Monday’s selloff where gold fell by 0.6%. The dollar has slightly weakened over the past 24 hours, which is typically good for gold prices.
The downtrend of the price of gold is expected to continue into 2016. The price currently stands at $1071 an oz which is the lowest it’s been at the end of the year since 2008.
While gold fell dramatically in 2015 ( It fell over 11% in the year), it wasn’t the only commodity that took a hit. In fact all the precious metals declined even more than gold.
On Wednesday gold looked like it would take the announcement badly, the first US interest rate hike in nine years. On Thursday, the metal got hit. Today, it’s bouncing back.
A long time ago in a city far far away (depending where you live), the U.S. Federal Reserve decided to raise the interest rate. That was almost 10 years ago, approximately the same time the last Star Wars movie.
Artisanal gold mining is the second largest source of mercury pollution after the burning of fossil fuels, releasing around 1,400 tonnes of mercury to the environment every year. Veiga, who heads the research group CAMI at UBC wants to educate miners on alternative methods
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Much has already been discussed about Gold’s seemingly endless free fall, leaving some to speculate that it may never recover. While gold will almost surely be seen as a metal with high value, there are reasons to believe that it will continue to struggle in the net few years.
After the price of Gold hit a temporary rise following the attacks in Paris, it fell back down again this week, now hitting $1062 an ounce, it’s lowest price in six years.
As the dollar gets stronger, the price of gold has depreciated to an impressive low price
After hitting a five year low last week, gold price rose on Monday, due to the terrorist attacks in Paris that left 129 dead on Monday. Gold has risen to $1086.75 an oz .
Gold ETF, Physical Gold, SIlver and Oil from October 27th 2015 until November 10th 2015 based on “I Know First” stock forecast algorithm.
Top ranked gold forecasters, such as Goldman Sachs Group Inc. and Barnabas Gan Oversea Chinese Banking Corp., have a bleak outlook for Gold’s price.
Gold ETF, Physical Gold, SIlver and Oil from October 9th 2015 until November 9th 2015 based on “I Know First” stock forecast algorithm.
After having a surprisingly strong October, gold fell back 1.8% to settle at $1,135 an oz, marking the lowest on Monday. The recent fall is a result from the U.S. Federal Reserve had a meeting last week, where they hinted at raising the interest rate.