EN
GIG-OS

[28 February – 06 March 2017] Weekly gold prices report

Global InterGold

On Tuesday, 28th, gold prices were little changed. They held above $1,250 per ounce as the world was waiting for the US president to speak to the Congress about his fiscal plans. But they did change quite a bit on the next day.

March, 1st had sharp movements in the market due to that first speech. Gold prices dropped beneath $1,240 after the announcement that the dollar interest rates are going to rise at this month's central-bank meeting.

However, gold prices in euro held firmer than those in dollar. In fact, Tom Kendall, from the bullion clearing bank ICBC Standard, declared the following: "It would not be a surprise if European investors were increasing their allocations to gold."

On Thursday, 2nd, gold prices remained practically the same. The prices in dollar stood at a $1,240 level, but the prices in euro fell. This fall in gold prices was mainly attributed to a stronger dollar and the expected rate rise in March in the USA.

However, gold prices in dollar didn't take long to fall: on Friday, 3rd, they dropped to $1,225 per ounce because Janet Yellen, Federal Reserve chair, gave a speech on the outlook for the increase in interest rates.

After the weekend, experts affirmed that gold prices will consolidate since their lower value is attracting sufficient buying. Actually, gold prices held stable on Monday, 6th at $1,234 an ounce. The rising geopolitical tension over North Korea and a weaker dollar resulted in a lot of gold buying as a safe-haven asset. And it will continue.

The whole world takes refuge on gold. Stay fast on your feet.

[BUY GOLD IN THE ONLINE GOLD SHOP]

Rate this article:
Created: 06.03.2017
RELATED NEWS
Gold is unstoppable: a new historical record!
Gold is unstoppable: a new historical record!
Scientists: gold is more valuable than many people think Scientists: gold is more valuable than many people think
Gold is striving forward: another milestone has been reached!
Gold is striving forward: another milestone has been reached!
Natural selection: why did gold become money? Natural selection: why did gold become money?
Gold flies off the shelves Gold flies off the shelves
Gold: a metal that everyone needs Gold: a metal that everyone needs
The viability of gold The viability of gold
Expert: gold will once again be the main reserve currency Expert: gold will once again be the main reserve currency
The response to the crisis: do not lose heart, take action The response to the crisis: do not lose heart, take action
Gold is invulnerable to economic tornadoes
Gold is invulnerable to economic tornadoes
Take the test
and find out if you are exposed to the Lack of Financial Security virus.
Register on the platform to receive the test.