Gold could even prove that the current strength of the current market price results from the flight of capital to safe havens of the previous weeks and rose to the highest level since mid-November. The prospect of a long term low interest rates set by the Fed could outdo the concern about further curbs on measures to reflate the market. Statements of the Indian Trade Minister are driving the prices up as well. The country could reduce the high tax burden on gold imports which might fuel the flames of demand and speculation.
The gold price broke out last week decisively of its downtrend since last August. This outbreak was also confirmed by an outbreak in silver on Friday which was accompanied by dramatically increased trading volume.
The gold price broke out last week decisively of its downtrend since last August. This outbreak was also confirmed by an outbreak in silver on Friday which was accompanied by dramatically increased trading volume.