Gold – Shift to Safe-Haven Assets Boosts Gold
The price of gold increased by close to $10 on Friday, as investors, worried about the US “fiscal cliff” and a breakdown in budget negotiations, shifted their funds to safe-haven assets. The precious metal rose as high as $1659.54 an ounce during afternoon trading, after which a minor downward correction brought prices to $1656.87.
With any progress in “fiscal cliff” negotiations unlikely to occur until after the Christmas holiday on Tuesday, gold is unlikely to see significant volatility until the second half of the week. That being said, any announcements or rumors regarding US budget negotiations today could lead to erratic shifts in prices, with any positive developments likely to turn the precious metal bearish.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
No comments:
Post a Comment