Gold News: Gold Regains Recent Loss, Price Becomes Harder to Predict
Much to the surprise of hedge funds, gold’s price has been creeping upward this past week, due to…
Much to the surprise of hedge funds, gold’s price has been creeping upward this past week, due to…
Gold reached it’s highest point in 3 months this week as prices rose $1,168.80/oz. Despite the fact that this was a strong week for Gold, the price has gone down quite a bit over the course of the year.
It has taken federal reserve longer than expected.
Both Gold’s and Platinum’s value continue to fall
On Friday, US reported payrolls data which was expected to provide more information about the timing of the FED interest rate’s rise. Nevertheless, the uncertainty remains and gold price suffers from this uncertainty. Gold reached a 2-1/2-week low on Monday.
The Federal Reserve signaled the possibility of more monetary stimulus, boosting bullion’s appeal as a hedge against possible inflation, in turn resulting in Gold futures rising for the first time this week.
Besides the impact of the Yuan devaluation, the Federal meeting has also played a key role on the gold climbs. Gold have reached its 5 weeks higher level recovering from its lower value on July 5th.
The uncertainty in the Chinese market and the devaluation of the yuan has lead to investors returning to gold as a safe haven.
Some analysts voice bullish opinions, while others remain bearish on gold.
Last Thursday, Gold traded slightly lower near 5-1/2- year low on amid interest rate hike prospects from the Fed.
Amidst global crises, gold has declined 8% year to date and awaits the effects of rising interest rates.
Gold ETF , Physical Gold, and Silver predictions from July 30th 2014 (before market opening) until July 30th 2015 based on “I Know First” stock forecast algorithm.
Gold hit a new 5-year low on Thursday before slightly rebounding on Friday, and the commodity could still fall further.
HSBC strategists on Monday lowered their average annual gold price forecasts for this year and the next one.
The rout on gold has continued as the precious commodity fell to a near five and a half year low on Friday.
Gold prices fell even further on Monday in the wake of the news that Greece had reached an agreement to remain in the Eurozone.
Gold prices have fallen for four straight quarters. Such decrease had never happened since 1997. Last week, gold value hit a low of Rs 26,500 per ten grams at the bullion market but we could see a little recovery…
Gold’s traditional market movers are out to play this week, pushing gold up, down, and sideways. Uncertainty has always been the main driver of precious metals…
Gold had its second weekly gain in a row last week, as the Federal Reserve’s cautious statements after its meeting last week and worries over Greece were bullish for the metal.