Results 1 to 3 of 3
  1. #1
    Junior Member

    Physical Gold Buyers Sit Out This Price Rout !!!

    In April, after gold dived more than USD 200 an ounce in two days, an unprecedented scramble to buy everything from coins to jewellery at "bargain" prices helped arrest the plunge, tempering fears of a prolonged rout.

    But not this time, say dealers and jewellers, who report that consumers across the world are reluctant to buy even after a price decline of almost USD 200 in 10 days as investors rushed to liquidate their gold in anticipation of the Federal Reserve's scaling back its bond-buying stimulus since November 2008.

    The failure of everyday consumers to rush to gold's rescue, as they did two months ago, suggests that prices may have much further to fall as investors rush to liquidate, analysts say.

    "The coin business is definitely a lot slower than April. They are not lining up outside of the store," Craig Sklar, owner of Ridgewood Coin & Stamp Gallery in New Jersey, said.

    Spot gold fell 2 percent to below USD 1,200 an ounce on Thursday, its lowest level since August 2010. It is now on track for a record quarterly drop of 25 percent.

    The absence of retail or collector buying likely has many causes. Many consumers stocked up on gold in April and May, when they reckoned prices were a bargain, leaving them less money or cause to buy even more this time around.

    With only two days left in the month, sales of the US Mint's American Eagle gold coins in June stand at only 47,000 ounces - one-fifth as much as in all of April, when sales hit a 3-1/2 year high. Silver Eagles sales are down 20 percent.

    Read more: http://www.daytraders.in/physical-go...is-price-rout/ | also read : checkmatetrades

  2. #2
    Legendry Member milos's Avatar
    The price of gold and the occasional recovery continues to move in downward trend.This quarter will be probably the worst of the price of gold over past few decade due to speculation that the Federal Reserve to reduce program of monetary incentives.Gold prices continued to fall during the spiraling European trade session.Gold is currently in a very bad situation that did not move in to restore it's attractiveness to investor despite statement by some members of the Federal Reserve to reduce monetary incentives is not inevitable.Gold price fell despite the poor performance of GDP in the US despite the fact that this report has increased the likelihood that the bond buying program for some time remain.During the day the price has increase an additional 1.83%. Daily range $1180-1234$ per ounce.

  3. #3
    Solid Member
    When market goes bellow 1200 some buyers are active. But it not mean that bullish is started. This week first of July 2013 bay be bull week. But we will see gold bellow 1000 soon. Where physical trader are waiting for 1000 level of Dubai. So buyers need to be conscious. The critical Area for gold is 1334 in this week. Gold will test this area this week and From here we expect massive fall again.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3