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Weekly gold market review 19.11.14

Weekly gold market review 19.11.14

 

It became known that on October 27 the price of gold fell to a relatively low level of $ 1,226. On October 29, the price of gold increased slightly and consolidated in a narrow price range of $ 1,227 – 1,230. The demand for physical gold remained significant. But already in a day, on October 30, the participants of the gold market were heavily upset by the sharp declined price of gold to the level of $ 1,200. Later on, there was a slight correction in the price.

 

On the last day of the month, the overall market of precious metals - not just gold - set a minimum due to the rising dollar and the US stock market.

 

As noted earlier, this October became unpleasant for the members of the gold market. In anticipation of rising prices of gold, investors bought up the shares of gold mining companies and physical gold. As it turned out, the price of gold had not reached its minimum at that moment. Nevertheless, most of them admitted that they were ready for such a turn of events, and did not regret that part of their money was saved in this safe metal. It is known that gold is a profitable asset in the long term.

 

November did not bring a lot of positive news for the precious metals market as well. Since the beginning of the month, precious metals mostly show a negative trend, and some of them are the subject to a sharp drop, only palladium move slightly upwards. Experts attribute this to the stability of the dollar and the US stock market.

 

The price of gold continued to decline rapidly, even taking into account the growing demand for physical gold. Even despite the fall in prices, the World Banks continue to buy physical gold for their gold reserves. Will the bankers know more than we do?

By the results on November 7, the price of gold fixed a new low of $ 1,130.4. According to analysts, this level can reach $ 1,100 if the US dollar increases more. This rate will be critical, and gold mining will become unprofitable. This fact can result to a sharp growth of the price of gold in the nearest future. Even now, the stabilization of the US dollar has no strong affect to the value of the yellow metal.

 

The results on November showed that the gold market began to grow, while other precious metals markets continued to decline. So the rate of the US dollar corrected down. According to the media, the price dynamics at the moment is based on speculation, mostly on the reduction of short speculative positions in gold.

 

Now analysts consider the price of gold much more positive than it was at the beginning of the month. As they say, the preservation of assets in gold will help to protect the savings against the weakening of the Russian ruble, and the uncertainty of the US dollar.

 

It is obvious that now gold is in a steady position. The customers of the Emgoldex company already enjoy the moment as they buy gold in the reliable and profitable online store of the company!

 

Share this useful information with others, let more people learn about this great opportunity to preserve and increase their capital by buying gold bars in the online store of Emgoldex!

 

Category: Gold news      Publication date: 2014-11-19 10:22


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