Sunday, March 18, 2012

when gold rate will come down in 2012

when gold rate will come down in 2012 ; Gold prices have been under pressure this week, and market watchers are torn whether or gold will sink to $1,600 an ounce next week or rise to challenge $1,700, suggesting much will depend on the action in the U.S. dollar. Prices were lower on Friday and on the week. The most-active April gold contract on the Comex division of the New York Mercantile Exchange settled at $1,659.50 an ounce, down 3.04% on the week. May silver settled at $32.726 an ounce, down 5.21% on the week.

Technical analysts are among those that see gold perhaps trying to probe a little more weakness next week, with $1,600 not unlikely. “The market has a little more room to go down before seeing a trend change. A test of technical support between $1,628 and $1,614 could occur early in the week leading to renewed buying interest,” said Darin Newsom, Telvent DTN senior analyst.

Gold, silver prices plummet as Federal Reserve’s economic outlook dims hopes for more stimulus.
Gold and silver prices plummeted Wednesday as the Federal Reserve’s more optimistic outlook for the economy dimmed hopes that the central bank will take additional steps to stimulate growth. Read More..

Budget 2012: Gold and platinum jewellery prices set to go up
Prices of gold and platinum jewellery are set to go up by atleast 2%, making them that much costlier for the consumer. Jewellers also fear that the increase in basic customs duty would increase the likelihood of smuggling in gold. Read More..

Gold and Silver Weekly Losses Bullish for US Mint Coin Sales
Gold and silver were nearly unchanged Friday, but both metals logged weighty weekly losses that were triggered early in the week when Federal Reserve policy makers edged up their assessment of the U.S. economy while simultaneously dashing hopes for another round of quantitative easing. In the end, gold prices tumbled 3.3% for the week after rising 0.1% last week. Read More..

Did Gold Analysts Get the Price Right for 2012?
2012 gold prices forecasts covered a wide range of prices with some analysts projecting highs over $2,000/oz. For the most part, analysts were bullish on the yellow metal and many investors undoubtedly looked to their predictions for guidance and reassurance. Read More..

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