gold price trend

2011年8月28日 星期日

No QE3 gold price swagger

No QE3 gold price swagger
U.S. Federal Reserve Board Chairman Ben Bernanke in a speech of public attention has not announced a new round of economic stimulus, will leave the matter to the end of September meeting to discuss interest rates, the gold market access to support, coupled with the price of gold after the collapse of part of the week bargains disk admission, to help New York push the price of gold rose for two consecutive days.
Bernanke on the same stimulus as being noncommittal, with commodity traders bearish on the U.S. East, the impact of hurricanes on oil refineries, oil price 26 flat.



26 in the New York Mercantile Exchange, gold futures market was the most active December contract to close at $ 1797.3 per ounce, up $ 34.1 over the previous day, or 1.9%.

26, Bernanke said the U.S. economic recovery is not strong, weaker than expected. He did not mention the outside world are generally concerned about the third round of quantitative easing, but said the Fed would still have a number of policy tools available to pull the economy, the Fed meeting in September will discuss the economic situation and monetary policy issues.

Gold futures prices was rushed $ 1,917.90 23 new high, but the 25 trading days ending two and a half total of -11%, spit two months of harvest. Chicago traders Lahey FuturePath Trading LLC, said: "push the price of gold all the issues have not disappeared, but the decision later today, Bernanke moved to an appropriate time."



Kitco.com Naide Le, senior analyst, said gold price trend is still going up, because the background changed, investors will continue to be uneasy, gold will continue to play safe haven role. Other experts said the United States, Europe and Japan's debt problem is very real, and are not resolved quickly, a haven of gold will continue to glow.

As investors have respect and much of the stock market, coupled with some foreign exchange hedge, the London gold price in the first 11 years with long pattern, at least the longest rally since 1920. Of last week, the price of gold had been rising for seven weeks, the highest since April 2007, the longest rally. Gold has gained 26 percent this year, total.




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