Dow Jones Industrial Average caused gold prices to fall

Gold prices continued to fall amid rising Dow Jones

In brief: The U.S. stock market began to attack the gold. After a record growth of Dow Jones Industrial Average declines in gold prices.

Gold prices moved in the red zone. Dow Jones Industrial Average has provoked the fall in commodity markets. Dow Jones Industrial growth has become a real test for the precious metals market. Against the background of a correction of the U.S. currency and easing pressure on risky currency gold also felt the fixation of profit, and today the precious metal continued its correction from recent record highs.

Currently on spot gold traded near $ 1221.96 per troy ounce, and although the elimination of Longo in the short run may continue, many analysts expect to maintain control of bulls over the situation, given that the situation in Europe in the foreseeable future is unlikely to undergo significant improvements and Investors remained concerned about the possibility of new surprises. For example, UBS strategists noted some increase in risk adjustment, but recommended to consider the levels below $ 1200 as an opportunity to increase long positions. The bank believes that the potential for intensification of the crisis in Europe continues, and in light of the prospects for maintaining low interest risk, they prefer to unhedged positions in real asset purchases of shares, predicting growth of gold to $ 1500 within a year.

Ukrainian Globalist
2010-06-11 00:50, Commodities.

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