|
Gold remained steady at the close of market yesterday. It appears down 9% on the week but optimistically it is up 6% for the month.
Despite the dollar’s increase in strength the price of gold is still faring well. The market remains bullish as the global economy appears to be picking up, which in turn is still encouraging investors to buy gold.
The slight dip in the gold price, analysts speculate, could be due to Chinas recent announcement that they would not buy gold on the open market for the foreseeable future. How far this affects the gold market appears to be seen. |