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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Why isn’t the gold price going through $2,000 now?

Posted on 07 October 2011

The gold price went over $1,900 and looked as though it was going to mount $2,000, but since then has fallen back to $1,600 and is in the process of consolidating around the lower $1,600 area. It was expected that it would have moved a lot higher faster, but that hasn’t happened, yet.
In the face of Italy’s downgrade to A2 by the ratings Agency, Moody’s summary that, “There has been a profound loss of confidence in certain European sovereign debt markets, and Moody’s considers that this extremely weak market sentiment will likely persist. It is no longer a temporary problem that might be addressed through liquidity support, and several euro-area governments are increasingly affected by the loss of confidence.”………………………………………Full Article: Source

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This post was written by:

VRS - who has written 36638 posts on Opalesque Commodities Briefing.


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