Gold touched the day Tuesday in a historic record in favor of particular prospects for an easing of U.S. monetary policy and concerns about the debt crisis in the euro area.
Tuesday morning, gold hit 428.93 dollars an ounce. These advances are the gains in gold during the quarter and 9% increase since the beginning of the year to 30%.
Gold benefits from the uncertainty surrounding the euro area and takes advantage of maintaining a high level of unemployment figures in the United States and a possible injection larger than expected cash from the Federal Reserve which could bring its purchases of Treasury bonds beyond the $ 600 billion expected.
This policy could increase pressure on the dollar and take the gold, an alternative to more volatile currencies, analysts said.
Observers do not exclude a temporary setback for gold in the short term before a resumption of its uptrend.
"We expect a slight correction by the end of the year, but next year it is expected that the price of gold will continue to rise and could reach $ 1 500 an ounce because the situation is not yet clear to the United States and Europe, "said Guy Phaneuf, Director, BMO Capital Markets.
The money for its share rose to 30.54 dollars per ounce on Tuesday, reaching its highest level since March 1980.
Source: http://argent.canoe.ca/
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