Weekly gold market review 14.08-20.08.2014
The last time there were the results for July, it was found out that despite the slight negative trend in the gold price on some days, as a whole there was a noticeable increase in the value of the yellow metal. The decisive factors for July were the import of gold in India, increased by 65%.
One more support of gold was made by the electronic currency InnCoins, released by the Anthem Vault Inc company, which is backed by this precious metal. The statement of SNL Metals and Mining Research has also affected positively on the price of gold. They claimed that in the nearest future there will be the deficit of gold.
Mid-August was successful for gold. Already on August 11, the price of gold couldn't gain a foothold above the level of $ 1,320, but it stabilized at a strong level of $ 1,308, showing a stable investment demand.
According to the results of August 13, the precious metals, besides palladium, showed a slight negative trend. Experts attribute this fact to a recent statement of the authorities of the USA about the possibility to begin a ground operation in Iraq. However, the probability of such of the event is unlikely.
Regarding the price of gold and silver in some countries, for example, Shanghai showed the growth, India increased its demand for gold. Therefore, it looks like there will be the value growth in respect to the gold demand
According to August 13, the price of gold rose to $ 1,319 and then corrected to $ 1,310. The demand for investment gold also showed its growth. The support is provided by the coming festivals in India.
The results on August 18 showed that gold and platinum demonstrated a temporary negative trend, along with the dollar.
The precious metals markets is inactive now because of the seasonality. Oils prices fell as well. Experts believe this is one of the factors that influenced the price of gold and platinum.
China is planning to launch the gold ETF fund, Bosera Funds, which will trade spot gold contracts, as well as fixed-term contracts on the Shenzhen Stock Exchange.
Investors and experts expect a quick increase in the price of gold. There is no doubt for the customers of the Emgoldex customers either, because they buy gold on the most favorable terms and receive a regular income from the bonus program, regardless of market prices.
Category: Gold news Publication date: 2014-08-22 10:00
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