As interest rates pertaining to the currencies of the world’s largest economic zones have reached almost zero, the status of gold as a refuge when the global economy is in turmoil is beginning to change in the mind of many investors. It is now seen by some as a more risky investment to be considered in the same category as other commodities. Nevertheless there is no broad consensus which is making future price moves harder to predict.
Posts Tagged ‘IMF’
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February 23rd, 2010
Outlook for Gold this week
GLD ended last week around $109.50 and ended today just above $109 on light volume. Although the action the last two sessions have been slightly negative, the price action of gold definitely surprised a number of longs last week. Gold held up well to 2 huge and potentially negative news stories last week.
February 17th, 2010
Short Term Outlook for Gold
After hours today, the International Monetary Fund (IMF) announced that they would begin selling some of their gold inventory using on-market sales. The total amount remaining to be sold is 191.3 metric tons and this will be sold the on-market sales will be conducted in a phased manner over time and in a way to not disrupt gold markets. This perceived unloading of gold pushed futures down $15 in after hours trading
