gold price trend

2011年8月20日 星期六

A new record high price of gold closed at $ 1,852

A new record high price of gold closed at $ 1,852


As the European economy into recession, investors and the accelerating spread of the debt crisis deepening worries about the hedge demand continues to rise, the New York Mercantile Exchange, gold futures prices rose sharply 19, the fourth consecutive trading day closing price hit a record high. Silver prices jumped 4.3%.

Day, the most active December contract rose $ 30.2 an ounce to close at a record high closing price of $ 1,852.2, or 1.7%, a record intraday high of $ 1,881.4 intraday price.

Analysts said investors in Europe and America debt crisis and increasing concerns about global economic situation and the global stock markets plunged again the collective confidence of the market collapse, hedge surge in demand, as continuously rising international price of gold this week, the main positive.

First, the recent release of the U.S. real estate, employment, manufacturing and other fields of economic data and are not expected, many signs indicate the U.S. economy in the second bottom possible.

Second, the U.S. Federal Reserve Board because of concerns the European sovereign debt crisis may spread to the United States, while European banks to increase branch review in the United States market resurfaced deepened investors and the health of the European banking crisis spread in Europe to accelerate debt concerns.

Again, this week's meeting of leaders of France and Germany, failed to reduce the market for euro-zone countries leaders have the ability to curb the problem of sovereign debt concerns, showing that the debt crisis in the near term are signs of improvement.

Affected by this, market confidence suffered a serious setback resulting stock market crash, while on a recession will curb demand for commodities, crude oil futures hit concerns as the leading commodity futures markets, investors are driven by risk aversion in the strong influx of gold have been sought under hedge.

Gold gained $ 109.6 an ounce this week, rose 6.3 percent this month, the international price of gold has risen $ 221, or 14%.

Chicago senior gold trader and analyst, said Matt Zeman, according to the current rate of price rise, breaking the $ 2,000 an ounce mark just around the corner.

American Financial Group senior gold analyst Gabriel Maikedaili said gold market is overbought, the dollar any good news in the gold market could trigger large-scale profit-taking. Zeman said that although the gold market fundamentals remained sound, but profit taking sell-off, the price of gold per ounce taking 100-200 U.S. dollars are considered normal.

Day, silver futures for September delivery rose $ 1.744, to close at $ 42.432 an ounce, or 4.3%. Platinum futures for October delivery rose $ 27.2 an ounce to close at $ 1,874.9, or 1.5%.

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