The price of gold are ready to grow above $ 1,300, but I need a reason
Gold remains the world’s capital markets demand a safe asset, and local recessions that quickly bought out, it only confirms. Troy ounce of gold for Wednesday, January 16, is trading around $1289,40 and somewhat reduced. Week maximum is $1298. It may well be that in this case one is enough bad news that gold has a shot at the second attempt – $1300 and went to the $1320.
In recent days, support for gold prices had a weak statistical data from China’s economy. So, I pay attention to the indicators for inflation (1.9% y/y in December against 2.2 percent in November), and the parameters of exports and imports last month. They deteriorated considerably year on year, and this has increased market concerns the potential slowing of China’s GDP.
According to “Alpari gold”, now gold corrects due to the selective strengthening of the dollar, which responds to statistics from Germany and the UK. Strategically, however, it has little value.
By the middle of the third week of January, the silver konsolidiruyutsya inside “sidehead” $of 15.55 is 15.88 and is trading at $15.62 min per Troy ounce. At the moment there is no bright signals to fast beyond this corridor. However, they can occur if the gold will start to move.
Senior analyst at information-analytical center,