Gold prices today: weekend have led the yellow metal in the red zone

Gold prices have fallen in price on 0,8% - what's next

In brief: Gold fell in price below the level of 1,190.00 dollars per ounce over the weekend. Thus, the fall of negating the price rise last week.

Gold prices continued its negative trend today. Gold does not keep its price position and once again showed the fall – this time below the level of 1,190.00 dollars per ounce. Thus the collapse wiped out price increases the previous week. London cash market of precious metals opened today fall in gold prices to the level of 1,189.00 dollars per ounce.

Thus, the collapse of the value of gold over the weekend was 0,8%, namely 9.75 dollars per ounce compared with the previous trading day. It should be noted that tenders closed Friday at 1,198.75 dollars per ounce. Despite predictions of stability, the market of precious metals in London showed mixed fluctuations in gold prices lately. However, analysts have no doubt increase in gold prices over the coming years. Thus, the deputy chairman of the board of directors of G-Resources Owen Hegarty said the growth in demand for gold and predicted its strengthening in the future. In particular, according to Owen Hegarty precious metal may rise in price to 1500 dollars over the next few years, and perhaps even up to 2000 dollars per ounce. It is likely the impetus for such a forecast was higher prices of gold to a record level of 1,265.30 dollars per ounce on 21 June, as investors used it as a hedging of currency and other risks.

Anrey Torbinski
2010-07-26 12:13, Commodities.

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