[/caption]The gold price on at 3:23 pm on November 22, 2010, was $1,364.12. That is up $11.82 from the opening price.
The World Gold Council released it's third quarter outlook a few days ago and reports, that in 2010 more gold will be used, compared to 2009. India and China are the two main markets for gold. In these two markets income levels are increasing, which in turn is going to increase the demand for gold jewelry. The $600 billion in additional printed money will send more investors into gold. The weakening U.S dollar and an increasing fear of inflation will also contribute to a increase of the gold price in the near future.
There are also technical factors that are important. As long as gold remains above $1,330, several sell indicator will not be triggered. For next week traders expect gold to clear $1,366, which actually already happened while I am writing this. The price of gold at 3:46 pm was $1,366.08.
Update:
The gold price was $1,362.95 at 8:03 pm, up $10.65 for the day.
Thestreet.com brings the price increase fro gold in relation to the bailout package for Ireland from the International Monetary Fund.
0 التعليقات:
إرسال تعليق