Gold News

At moment, is currently steady around the $1,180 level, the buying attraction expected to continue.

central banks’ interest to increase holding of the precious metal

At moment, is currently steady around the $1,180 level, the buying attraction expected to continue.

Last week Dubai’s news of a plan to delay repayments emerged fears of a second round for a global economical crisis. This had a straight effect on commodities, with gold trading as low as $ 1,1360.80 right after the news were out.

According to traders in the market, clearer skies are seen regarding possible repercussions from Dubai.
In November, gold hit a record high trading around $ 1,195 per ounce, influenced by a weak dollar outlook.
At moment, is currently steady around the $1,180 level, the buying attraction expected to continue.

Spot gold maintains his $ 1,179.05 per ounce level.

The central banks’ interest to increase holding of the precious metal might be a sign that the gold long term uptrend still intact.