Weekly gold market review 22.09.14
Autumn is considered the great period for the gold value, in particular, the beginning of the season. September holds the position of the most productive month for the gold market. During the last 20 years the price of gold grew by an average of 3% in September. Not once gold has reached an annual record in September since 1972. Therefore, exactly this month is the best to buy gold!
In addition, a new political and economic season has begun together with the beginning of autumn. This means that changes in the price of precious metals will be difficult to predict now and jumps in gold prices are likely to be more dynamic than in the summer.
According to the results on September 4, the gold price stabilized above the $ 1,270, going into consolidation range $ 1,270-1,320.
Now the world economic situation is ambiguous, there are some improvement in the economy of the United States, but the situation deteriorated practically in all other regions of the world. This was particularly noticeable in the European Union.
According to analysts, the adverse changes in the stock market of the United States will support the value of the precious metals. This concerns especially gold and silver. This means that gold will strengthen its position once again.
Moreover, in the 3rd quarter of 2014 the price of gold should be positively affected by the growth of demand in India, as well as reducing the value of oil in the last days of summer. Especially good prospects are for the price of investment gold, physical demand still remains low.
Experts point out about the gold reserves of the Central Bank of China. According to the data of IMF, in the last 5 years it could be added about 1.5 tons to the country's gold reserves. This would bring to China's gold reserves to 2,500 tonnes. Surprisingly, but the country is constantly increasing reserves of gold even at ensuring the national currency with gold of 5%. China seeks to bring the yuan to new levels of conversion.
On September 8, the price of gold fell to the level of support of $ 1,252. Experts attribute this to the rise of the U.S dollar. Later the prices rose up to $ 1,256.
This decrease in the price of gold has caused a discontent among producers of the yellow metal. They said about the "peak” in the gold production and the increase of the cost of the gold production. This indicates that there will be again a rise of the gold price in the nearest future.
The most farsighted clients of Emgoldex take advantages of the moment. They preserve their funds in gold and earn high income using the marketing program of the company.
Category: Gold news Publication date: 2014-09-22 13:49
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