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Weekly gold market review 03.10.14

Weekly gold market review 03.10.14

The first month of autumn came to the end. According to the experts, September is considered a good month for the increase of the price of gold. It was not once, when gold reached an annual record exactly in September for the period since 70s.

In the middle of the month, the price of gold fell to the support level of $1,252. Experts explain this fact by the growth of the dollar. A little later, the prices have risen to a level of $1,256.

 

As it became known today, Russia and China influenced the dollar and put it under great pressure. Analysts say, it is expected that many investors will seek to increase their investment in precious metals. Of course, this would entail their price increase.

 

A noticeable decline in the price of gold in mid-September caused discontent of all manufacturers.

They complain about the rising of production costs that cannot be covered by the price of gold. Only these two factors indicates to a jump in the price of gold in the nearest future.

 

By the end of the month the gold market did not recover after a long fall in prices, in addition, it also could not gain a foothold above the level of $1,230 per ounce. However, the consolidation level remained near $ 1,225. There is still the probability that gold could fall to $ 1,200. Nevertheless, the yellow metal is now receiving strong support from the physical demand. Experts believe that the fall in prices of gold is just a "calm before the storm".

 

An interesting step was taken by a famous world-known Canadian investor Eric Sprott. He has invested 80% of his capital in precious metals, including gold. Another promising and far-sighted investor, Jim Rickards, also made a curious statement. According to him, if the dollar collapses, the entire monetary system will collapse with it at the same time. And a great way to protect yourself is to invest in the yellow metal. In particular when the price has fallen so much.

 

Experts say, the central banks have long been carried out all sorts of tricks with the price of gold. However, this situation can not last forever. Mr. Rickards has concluded that fraud in respect of gold by central banks will end in a couple of years. At that time, the price of gold will make a huge leap and can be fixed at the level of $ 3,000. And if the entire global financial system starts collapsing, the price of gold may soar up even to $ 9,000!

 

Rickards recommends to save 10-20% of the capital in the physical gold to ensure financial protection.

 

This advice is useful for the most forward-thinking customers of Emgoldex who preserve their capital in gold and get high stable income through the marketing program of the company.

Category: Gold news      Publication date: 2014-10-03 14:52


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