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Weekly gold market review 14.04.15
After Wednesday's meeting, which regardless of the negative recent data of economic growth, created high expectations for a rate hike by the Fed among officials, the prices of gold lowered from $1,203.30 to $1,194.92 per ounce.
On Friday, Asian market recovered after a drop on physical gold demand and, in general, gold prices increased sharply up to $1,208.70 an ounce, mainly still influenced by the previously mentioned expectations.
The market stopped its movement on Saturday, 11, when prises were stable at $1,207.58 per ounce over the course of the day and the following day Sunday, 12. During the stabilization of the weekend, investors expected the data release from Japan on machinery and the latest policy meeting by Japan's central bank, as well as the data of China on the trade balance.
On Monday 13, the prices of gold increased slightly up to $1,208.22, before drop abruptly to $1,198.66. The course of the day experimented ups and downs reaching spikes such as level of $1,204.12 per ounce and back to another low level, $1,199.44.
On Tuesday, April 14 it had been expected the new data regarding retail sales and producer prices. Gold prices have been slightly weaker, for now reaching a maximum of $1,201.50 before lowering to the scandalous figure of $1,187.91.
The purchase of gold activity has been increasing noticeably mainly by Central Banks. One of the main experts in Chinese gold industry, Zhang Bingman, declared recently the importance of gold highlighting the fact that last year the arks of every government as a whole accumulated 534 tons of gold, put another way, 18.8% of total annual production of gold, after more than two decades of selling their gold reserves.
Experts expect a future growing demand for gold given the low prices, apart from a plausible new record in 2015 of gold bars production that could supply this demand.
The clients of Emgoldex contribute to that high demand for gold thanks to the profitable purchasing conditions of the online store, in which they can create and develop their own gold business to guarantee themselves a stable and wealth future!
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Category: Gold news Publication date: 2015-04-15 10:22
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