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"Beginning of the End" Seen for Current Gold Price Era after Stocks Record Best January in 16 Years - Sun Feb 3 21:21:03 2013

Published: 03/02/2013 09:21:03 PM GMT
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The Gold Price recovered some of its losses from the previous day Friday, edging higher to $1666 per ounce by the end of the morning in London, while most stock markets also edged higher ahead of US nonfarm payrolls data due out 08.30 Washington, DC time.A day earlier, gold dropped 1% during Thursday's US session, in what one analyst describes as a remarkable display of schizophrenic volatility .A few hours later there was little buying on the physical side in Friday's Asian session according to one Hong Kong dealer quoted by newswire Reuters. There's some buying from mainland China...but I think gold is a bit tired after it failed to break $1700 an ounce. European stock markets edged higher this morning, with exceptions in Italy and Spain. Spain's IBEX 35 index extended recent losses and was down 1.4% on the day by lunchtime today, the first (more)

The Gold Price recovered some of its losses from the previous day Friday, edging higher to $1666 per ounce by the end of the morning in London, while most stock markets also edged higher ahead of US nonfarm payrolls data due out 08.30 Washington, DC time.A day earlier, gold dropped 1% during Thursday's US session, in what one analyst describes as "a remarkable display of schizophrenic volatility".A few hours later there was "little buying on the physical side" in Friday's Asian session according to one Hong Kong dealer quoted by newswire Reuters."There's some buying from mainland China...but I think gold is a bit tired after it failed to break $1700 an ounce."European stock markets edged higher this morning, with exceptions in Italy and Spain. Spain's IBEX 35 index extended recent losses and was down 1.4% on the day by lunchtime today, the first

Read full story at Oil N' Gold - Resources for Serious Traders




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Al Arabiya is an Arabic and English language digital content provider licensing electronic content to clients globally. Al Arabiya gives media providers a competitive advantage by providing them intelligent coverage of Middle East Economics and in-depth Islamic Finance and Middle East Forex technical market data.