Rus News Journal

The day review of the market of gold: players fix profit after launch

In the cash market of precious metals in London the price spot gold with reference to its morning fixing (AM Fixing) on Friday, on July, 8th, practically has not changed after the day before it has reached a maximum for two weeks. Price AM Fixing on gold has officially made 1526,00 dollars/ ounce against 1526,25 dollars/ ounce the day before. It was its highest indicator after June, 23rd.

price AM Fixing on gold in London has gone down concerning the last trading day on 25 cents, being adjusted on the current prices of the urgent market. At stock exchange COMEX of the price under transactions with futures for gold on the three first positions kept in a range 1526,1 - 1528,3 dollars/ ounce.

values of the prices of morning and evening fixings on gold in London for the last five trading days (dollars/ ounce) are more low resulted:

on July, 7th - 1526,25 (AM Fix), 1527,50 (PM Fix);
on July, 6th - 1515,80 (AM Fix), 1527,25 (PM Fix);
on July, 5th - 1498,75 (AM Fix), 1510,00 (PM Fix);
on July, 4th - 1495,25 (AM Fix), 1495,00 (PM Fix);
on July, 1st - 1492,75 (AM Fix), 1483,00 (PM Fix).

As of July, 1st price AM Fixing has fallen to the minimum almost for seven weeks - 1492,75 dollars/ ounce, having provided attractive conditions for gold purchases.

historical maxima for the official prices for gold in London make for today:

PM Fixing - 1552,50 dollars/ ounce (on June, 22nd 2011.);
AM Fixing - 1548,40 dollars/ ounce (on June, 7th 2011.) .

Now I would not ask, why there was a correction on gold, and would ask other question: why not to buy some gold right now? The reasons of a small pause only two: the market, leaning against statements FRS, believes that the third wave of quantitative softening will not be. Greece has received next 12 - a milliard tranche, it too has a little calmed investors - the senior raw strategist Commerzbank of Ezhen Vajnberg speaks. However, he marks, problems of the European periphery grow, as a snow clod: Portugal can follow Greece. Besides, the periphery rivets on itself all attention, and that debt loading of the developed countries constantly grows, prefer not to notice. Under forecasts of the expert, the gold quotation will establish new historical maxima in IV quarter 2011.

Quote. ru