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Recovery of gold after the biggest daily loss in nearly 3 years
01/03/2012 13:26:00
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The independent Iraqi news agency / listen .... Spot gold rose to more than one percent on Thursday as it attracted the largest daily loss of the yellow metal in more than three years, buyers who are betting on further gains despite the somewhat radical statements milk Bernanke Federal Reserve Chairman (Fed).
The gold market has immediate buying fever in Asia as traders piled into gold, traders and investors to take advantage of lower prices around $ 100 last night, which helped to consolidate the gains.
Investors were hoping that the Federal Reserve released a new round of quantitative easing, which will drive more cheap money into the market, which will raise the rate of inflation, which gold is traditionally a safe haven from it and give investors a greater ability to buy the precious metal.
But Bernanke did not mention the purchase of more assets during his testimony before Congress, prompting stock markets lower and boosted the dollar.
Spot gold rose 1.5 percent to 1720.33 dollars per ounce by the time 0606 GMT, after that came down five percent on Wednesday in their biggest daily loss since December in December 2008.
Prices, which rallied U.S. futures contracts for gold 0.6 percent to 1721.60 dollars an ounce.
Silver rose 0.9 percent to 34.91 dollars an ounce after losing more than six percent in the previous session.
And platinum rose one percent to 1691.99 dollars an ounce and palladium rose 04.0 percent to 700.97 dollars an ounce.
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01/03/2012 13:26:00
Font size:
The independent Iraqi news agency / listen .... Spot gold rose to more than one percent on Thursday as it attracted the largest daily loss of the yellow metal in more than three years, buyers who are betting on further gains despite the somewhat radical statements milk Bernanke Federal Reserve Chairman (Fed).
The gold market has immediate buying fever in Asia as traders piled into gold, traders and investors to take advantage of lower prices around $ 100 last night, which helped to consolidate the gains.
Investors were hoping that the Federal Reserve released a new round of quantitative easing, which will drive more cheap money into the market, which will raise the rate of inflation, which gold is traditionally a safe haven from it and give investors a greater ability to buy the precious metal.
But Bernanke did not mention the purchase of more assets during his testimony before Congress, prompting stock markets lower and boosted the dollar.
Spot gold rose 1.5 percent to 1720.33 dollars per ounce by the time 0606 GMT, after that came down five percent on Wednesday in their biggest daily loss since December in December 2008.
Prices, which rallied U.S. futures contracts for gold 0.6 percent to 1721.60 dollars an ounce.
Silver rose 0.9 percent to 34.91 dollars an ounce after losing more than six percent in the previous session.
And platinum rose one percent to 1691.99 dollars an ounce and palladium rose 04.0 percent to 700.97 dollars an ounce.
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