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Thursday, December 16, 2010

Gold Price Today Don’t Buy until You Know These New Developments

Gold Price Today Don’t Buy until You Know These New Developments : The price of gold, which had been rising over the last several sessions, has taken a loss in Thursday early day trading. During the morning session, gold prices fell to below $1,370. Some experts suggest that the decline in price is due to a stronger dollar and weaker euro. When compared to the US dollar, the euro fell a bit as recent news on the US economy came out.

The general consensus amid that news is that the US economy is gaining strength. First time jobless claims were reported as being slightly lower than expected. On Wednesday, spot gold was quoted at $1380.45. It was quoted this morning at $1,368 per ounce.

Feb. delivery of gold futures was bid at $1,369 per ounce. Earlier in the month, spot gold hit a whooping level of $1,430.95 per ounce. This jump in price was attributed to euro concerns over its level of debt.

While gold lost some value today, most experts agree that the metal will not see a sudden and deep runoff. Prices should remain fairly stable for the time being. With the troubles in the EU still causing concern among many investors, gold will likely to continue as a hedge investment for some time to come. For the latest updates PRESS CTR + D or visit Stock Market news Today

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