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Ikon forex "The rebound of gold forex price might be temporarily"

Discussion in 'Forex Discussions' started by ikonforex, Feb 16, 2011.

  1. ikonforex

    ikonforex New Member

    Dec 22, 2010
    Likes Received:
    VM Group and ABN AMRO Bank said in the Metal Monthly Magazine which was released on Tuesday (February 15) that the rebound of gold at the very beginning of the year 2011 might just be temporary.

    Some forex analyst said the low interest rate expectation in US, the EU sovereign debt crisis, and the threat of the uncontrollable of the inflation condition in China as well as the unstable situation in Middle East would continue to provide some support for the forex price of Gold price.

    Meanwhile, the silver price in January fell from above 31.00 US dollars per ounce of December and would face great risk of slumping down. And the sales amount of gold coins in US in January reached the lowest record in history, and ETF continuously reduced its holding as well.

    The report indicated that silver investment would only be suitable for the forex investors, who could bare these severe fluctuations of the price, the strange trend of silver forex price as well as the self-contradictory demand information in the forex market made it quite difficult to make the analyze in the silver forex market. However, in the long run, it is predicted that the silver price would break the highest point which was reached in last December.

    The expectations of the average price for three months and a whole year of gold was 1455 US dollars per ounce and 1457 US dollars per ounce separately; and that of the silver price was 31.00 US dollars per ounce and 29.63 US dollars per ounce.

    Edited by Laura in Ikon Group.

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