Gold lost to the high dollar
Gold was under pressure Monday and fell 2% after checking the level of support for the important concerns about the debt crisis of the euro area, prompting investors to seek safety in the U.S. dollar instead of the precious metal.
And cause the approaching end of the year and funding problems caused by financial market turmoil in the reduction of market liquidity, which displays the gold price to sharp fluctuations; where the lost spot prices of gold more than $ 10 in just two minutes ..
Investors are still worried, even after Europe to reach a historic agreement on Friday for a new treaty to deepen economic integration in the euro area.
Gold lost to the high dollar
At 10.07 GMT, the spot price for gold of 1.7% to 1681.7 dollars per ounce, "oz", after falling to 1676.29 dollars an ounce, the lowest price since 25 November.
He said traders and analysts that come down from the 1680 dollars per ounce accelerated the loss of the metal in the light of the high dollar is about 0.8% against a basket of major currencies.
Usually the power of the dollar encourages U.S. investors to sell gold to reap higher profits in their own currency communities.
http://businessmoney2012.blogspot.com/
Gold lost to the high dollar
Gold lost to the high dollar
Gold was under pressure Monday and fell 2% after checking the level of support for the important concerns about the debt crisis of the euro area, prompting investors to seek safety in the U.S. dollar instead of the precious metal.
And cause the approaching end of the year and funding problems caused by financial market turmoil in the reduction of market liquidity, which displays the gold price to sharp fluctuations; where the lost spot prices of gold more than $ 10 in just two minutes ..
Investors are still worried, even after Europe to reach a historic agreement on Friday for a new treaty to deepen economic integration in the euro area.
Gold lost to the high dollar
At 10.07 GMT, the spot price for gold of 1.7% to 1681.7 dollars per ounce, "oz", after falling to 1676.29 dollars an ounce, the lowest price since 25 November.
He said traders and analysts that come down from the 1680 dollars per ounce accelerated the loss of the metal in the light of the high dollar is about 0.8% against a basket of major currencies.
Usually the power of the dollar encourages U.S. investors to sell gold to reap higher profits in their own currency communities.
http://businessmoney2012.blogspot.com/
Gold lost to the high dollar
Gold lost to the high dollar
