gold price trend

2011年8月12日 星期五

Spot gold extended losses by risk rise

Risk appetite Spot gold extended losses

Restart the stock market rally, the euro / Swiss franc sharply higher market risk sentiment heats up, spot gold on Friday (August 12) New York time extended losses.

Spot gold record high in early trading Thursday at $ 1,813.79 / ounce level. Analysts said investors remained nervous on the U.S. economic outlook, which could push gold to restart a wave of gains.
Macquarie (Macquarie) analyst Hayden Atkins said, "safe-haven assets of gold and other linkage between the reasonable correction in the near future and recently gold and the U.S. debt situation is closely related to gold to bring the United States Treasury bonds to rise, the problem is, if people more worried about the U.S. sovereign debt risk, the trend of gold and U.S. bonds will be divided it? "
Atkins pointed out that "the price of gold to rise further still need people to put money into gold rather than the general safe-haven assets."

U.S. July retail sales recorded their biggest monthly rate in March rose, stocks, opening to go, spot gold was then refresh time low of 1,723.00 U.S. dollars / ounce level. U.S. Department of Commerce data released on Friday showed U.S. retail sales rate in July rose by 0.5 percent to 390.42 billion U.S. dollars, is expected to rise 0.5%; June retail sales rose a revised 0.3% monthly rate, initial increase of 0.1%.

The world's largest gold exchange-traded fund (ETF) - SPDR Gold Trust, said its ending as of August 11 to further reduce the amount of gold holdings 23.63 tons, to 1,272.89 tonnes. Reduction of about 1.8%, the highest since the end of January the biggest single-day decline.


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