Investors: Why the demand for gold?
News of the exchange. On Friday, gold has risen in price. Impact on the rising cost of recent data World Gold Council, as well as the depreciation of the dollar in Forex, which, in turn, is due to the expectation of a positive solution to the debt problem in Greece next week.
At half past seven on Friday, the futures price of gold rose to 1736 USD per ounce (at 0.440%). At the same time the dollar against a basket of six major currencies dipped to 79.220 points (0.19%).
According to the World Gold Council, gold demand in 2011 amounted to 4.060 thousand tons worth 205.5 billion dollars (a record number of 1997). In the sector of investment demand has increased to 1.64 tons, an increase of 5%.
Traditionally, on the growth in demand for the precious metal in the lead, India and China. In China, demand reached a figure of 769.8 thousand tons, up 20% more than in 2010. In the investment sector, there was a sharp rise, the demand has increased by 69%.
In the first place on the level of demand up to 2011 is India, where over the past year has sold 500 tons of ingots and products made of gold.
According to Marcus Grabbe, managing director of World Gold Council, there are two reasons for the increase in demand for gold in the past year: first, the growth markets of Asia, and the hopes placed on it, and secondly, concern of investors about the safety of their savings. The Director suggested that the first place for the consumption of gold in 2012, China will take, and confidently stated that the long-term outlook for gold is positive.
Another reason for increasing the value of gold is the depreciation of the dollar, due to the events in Greece. The fact is that on Friday at a meeting of national authorities and international creditors, the program was set out in the Greek economy in 2012, which aims to reduce costs by EUR325 million mills if the Eurogroup meeting to be held February 20 on Monday, is successful, will be allocated to Greece EUR130 billion and the country would be saved by default. In connection with the optimism of investors in the U.S. currency is losing value, and the yellow metal, respectively, increases.
For the full year 2010 growth in the value of gold was about 10%, the value for January increased by 11%. Now, if we start counting from 1920, notes the longest period of growth of the gold price, which lasts for 11 years.
Thus, taking into account such factors supporting the price of gold, as the debt crisis of the European currencies and inflation in different countries, gold is for investors more attractive alternative than the unstable currency and stocks of companies subject to significant fluctuations.
Layout options for movement. Monthly-Daily-H1. GOLD. February 20
A. Daily Option UP – KT-1 …
Support level: 1705.1 is critical for this option and cancel this option markup.
Resistance levels:
Volatility indicator Saks Channel: H1 1744,5-1753,9
Target Buy-mesh base indicators: 1757.7 – The local maxima: 1737.3
Two. Option Flat – Flat-zone. Daily
Resistance Level: 1737.3
Support level: 1705.1
In forming the lateral motion of these levels are critical. In forming the model expansion is probably a false break through support or resistance levels Flat-zone, however, limit the movement could not be more than 161.8%. Support level 161.8% = beyond the borders of Flat-band and resistance level 161.8% = beyond the borders of Flat-zone are critical for this option and cancel this option markup.
Three. Option Daily: Down – KT-1 …
Resistance Level: 1737.3 is critical for this option and cancel this option markup.
Levels of support:
Volatility indicator Saks Channel: H1 1735,1-1725,7-1716,3
Target Sell-mesh base indicators: 1717,0-1712,4 – The local minima: 1705.1
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