U.S. & British sentiment Gold overload
Friday, April 1, 2011
Gold target is still in the range of $ 1.500 per ounce in the coming months though gold is only up 1% in Q 1 2011. This is the lowest increase since the financial crisis began in 2008, according to Phillip Futures.
"The prospect of euro zone interest rate hikes and reduced expectations of quantitative easing by the U.S. burden in gold prices," according to brokers. However, gold is still used as a hedging instrument in the midst of market uncertainty. "The tightening of monetary, uncertainty in the Middle East and the problem of debt in the euro zone is unlikely to make gold as a commodity with the best performance," according to brokers.
Spot gold was at $ 1,430.60 per ounce, down $ 1.20 since the New York market close Thursday.
Friday, April 1, 2011
Gold target is still in the range of $ 1.500 per ounce in the coming months though gold is only up 1% in Q 1 2011. This is the lowest increase since the financial crisis began in 2008, according to Phillip Futures.
"The prospect of euro zone interest rate hikes and reduced expectations of quantitative easing by the U.S. burden in gold prices," according to brokers. However, gold is still used as a hedging instrument in the midst of market uncertainty. "The tightening of monetary, uncertainty in the Middle East and the problem of debt in the euro zone is unlikely to make gold as a commodity with the best performance," according to brokers.
Spot gold was at $ 1,430.60 per ounce, down $ 1.20 since the New York market close Thursday.
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