Dollar rise in price has provoked reduction of prices to goldIn the gold world market recently considerable correction is observed: from the beginning of August the gold price on COMEX has fallen more than to 12 % and was established on record-breaking low for last 8 months to a mark, transfers Reuters.
the combination of the rising in price dollar, cheap oil and growing stock markets became the Principal cause of so prompt reduction of prices on this precious metal. And, according to the majority of experts, in the near future the prices for gold can fall even more low.
“ reduction of prices on gold is caused by reduction in price of oil and dollar rise in price in relation to other world currencies. Now in the gold world market panic sales " have begun; - representative Auramet Trading Bruce Dann marks. However, it is necessary to note, what even despite prompt reduction of prices, gold still costs nedeshevo. For comparison: in 2001ã. For gold ounce gave an order 250 dollars And on March, 17th of this year this precious metal cost already about 1030,8 dollars/ ounce.
however prompt rally of yellow metal has appeared short, and now for ounce give only 820 dollars “ If the world prices for oil continue to decrease, and the dollar will continue to grow, from gold it is not necessary to wait for new records “ - the senior trader Wisdom Financial of Zahari Oksman considers. Thus experts add that if not the conflict in South Ossetia, gold could fall already to a mark 700 dollars/ ounce.
anyway, the dollar became a principal cause of reduction of prices on gold nevertheless. The matter is that usually investors buy gold, trying to protect the capital from volatilnosti the world currency market. Accordingly, if the dollar exchange rate falls, gold uses the raised demand. Confirms this point and the statistican: for last month the currency of the USA has grown up on 7 %. Gold, on the contrary, has fallen in price, and is strong enough.
The role restoration of world stock markets has played also. Recently traders take away the capital from the raw markets and put it in securities. “ now the majority of investors is taken away by the means from the raw markets. And while gold is near to a mark 850 dollars/ ounce, it is not necessary to wait for returning of means to this market “ - the trader at Commodity exchange of New York (COMEX) assures Dzhonatan Dzhossen. Thus the expert adds that recent “ gold rally “ it has been connected with weakness of a world financial system. “ now, when the world economy has started to be restored gradually, demand for gold has decreased “ - he marks.
we will remind that in the beginning of current week the gold price at Commodity exchange of New York (COMEX) has fallen to 4,2 %, to the lowest level for eight months. The official price of the active future has made (December) 828,3 dollars/ the ounce, and transaction floor price has fallen to 824,5 dollars/ ounce that became the lowest indicators of this year. The Trojsky ounce of gold on COMEX has fallen in price on August, 11th for a day on 36,5 dollars that became a consequence of preservation of expensive American dollar and the further decrease in the world prices for oil.