- Analytics
- News and Tools
- Market News
- The price of gold has fallen sharply
The price of gold has fallen sharply
Gold prices declined substantially while still achieving the most minimal values for the month, which was due to speculation that physical demand will slow during the Lunar New, who this week celebrated in Asia. Also, the pressure on the precious metal have expectations of tomorrow's meeting the Board of European finance ministers, which is projected to be discussed on financial aid to Cyprus and Greece.
Meanwhile, analysts also note that, given the lack of activity on the part of the Chinese market, which is associated with the holiday, demand from other regions may have a significant downward pressure on prices, thus exposing the precious metal to sharp fluctuations.
In addition, experts say that the lack of physical demand, along with worries about Europe, and led to today's decline in the value of gold.
At the same time, if we evaluate the situation from a technical point of view, we can see the price of the precious metal fell today 200-day MA, which is a strong signal to the market. Analysts also point out that the decline today was exaggerated technical weakness, but trading volume was 33% higher than the average for the last 100 days.
February futures price of gold on COMEX today fell to 1661.60 dollars per ounce.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
