Thursday, November 25, 2010

Gold and silver prices remain low

Our favorite shiny metal is to have a bit of a combat.Cela has the goldbugs are barjots.

I am inclined to hate mail on gold.This is due to a column I wrote back in 09 October or called a "poor investment" $ 1,000 an ounce .Environ 30% later, like a stupid enough column. I have written an quasi apologize earlier this year, but the goldbugs keep pounding lack me true belief.

Gold fell by 1.4% yesterday and is disabled, a low start today, to their lowest levels since early octobre.Selon Rhiannon Hoyle, this morning, my colleague at London spot gold traded lower by 0.4% to $1,319.20 one troy ounce. Cash has decreased by 0.5% in $23.001 / oz Platinum spot has decreased by 0.2% to $1,662.25 / oz and palladium spot was less than $581 / oz of 0.2%.

This weakness has big metal exchange traded fund valuable below trend, including the American gold trust and iShares Silver Trust.

So, what happens? No one is really a good idée.Certains cite the dollar but the dollar has struggled in recent weeks.He has held decent right around $ 1.40 to the euro and is clinging just above depressions records against the yen .but they are difficult to "strong" positions for the greenback.

UBS said that the market is "nervous" but refuses to say what makes the nervous market.Others say is "consolidate" which means "we have no idea why gold is lowest."

Precious metals, as many products, are notoriously volatile.It can be simply that we are witnessing this volatility.

Another explanation is the fear of the G20.Ministres finance meet in Korea South this weekend .they will strike a bonanza that steadies markets Forex and actually harm the gold? this concern can be carried out things.

Regardless, gold is a rare episode faiblesse.La most see $1 300 an ounce as support clé.Nous can test quickly.

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