gold price upside

The European Central Bank (ECB), coupled with the Federal Reserve (Fed) may reposition itself in the 3rd round of quantitative easing (QE3) bailout to inflationary warming doubts climbed arrived in the peak of six months, the price of gold on the 7th. The analysts believe that the gold market outlook is still bullish, is expected to challenge the $ 2,000 per ounce. The ECB announced on Thursday the unlimited acquisition bond program, in order to depress the hardship and the country's borrowing costs. In addition, the United States in August nonfarm payrolls increased by only 9.6 million, better than the market forecast of 13 million people, and also increase the possibility of Fed resorted to QE3. Both measures are widely regarded as a danger of pushing up inflation, prompting the recent transfer of funds into hedge against inflation hedging."Citi Futures expert Smith said:" weak employment figures favorable gold price upside. Bernanke has repeatedly stressed that the job market is grim, the market is expected QE greatly increased the probability, but this may stimulate inflation. "Rose 2 percent on the New York Mercantile Exchange, gold futures for December 6th, to close at $ 1,740.5 per ounce intraday rise up arrived 1,745.4 dollars per ounce, the highest since Feb. 29. The same day gold exchange-traded product (ETP) holders of gold also increased to 2,471.97 metric tons, a new high record.