When the luster of Gold Being Faded

By Big Smile Minggu, 11 September 2011 0 comments
Synonyms And Synonyms
Synonyms And Synonyms
Gold prices continue to experience weakness. Save-haven commodities is increasingly falling.

As quoted by Reuters, gold is on track to record its biggest loss in one week since last June. The gold fell $ 20 in early trading in just a few minutes.

"People might take off his gold now, because it was so bullish," said Macquarie analyst, Hayden Atkins.

A number of investors looking to profit-taking after losing confidence in the ability of metals to build a record high this week. The price of gold in the spot market on Friday, fell 0.6 percent to USD1.857, 80 ounce, after earlier rising as high as $ 1, 885.50. While the lowest position at USD1, 824.44 per ounce.

U.S. gold futures for December delivery dropped to $ 3 GCv1, 90 per ounce to USD1.861, 40.

Gold luster faded, the article in this week's price of this precious metal fell very sharply, ie, until it reaches $ 130. Whereas previously the gold price at USD1.920, 30 per ounce.

Although it should be noted weekly decline, gold could rise to minimize losses in volatile trade after briefly touching a low level at USD1.823, 20 per ounce, as investors began to doubt the U.S. President Barack Obama's plan to spur economic growth by injecting USD447 billion in the sector of employment .

Gold continues to demonstrate its consistency with the move to strengthen in the last 11 years, which is the longest consecutive increase since at least 1920 in London. Throughout the year 2011 alone this precious metal has rallied by 31 percent, to exceed the global stock, commodity and
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