Gold gave up its gains on Monday as the euro slipped back into negative territory versus the US dollars. This is due to lingering concerns over the euro zone. The coming days may be critical for gold. And by friday after the US non-farm payroll datas are in, gold may no longer be in a trading range. So far, gold still remains in a downtrend.. With this depression in prices, physical demand is higher in India - capped by the weak rupee. The bond markets pointed to ongoing worries over euro zone debt. Among other precious metals, silver was down 0.4 percent at $28.38 an ounce. Spot platinum was up 0.5 percent at $1,434.24 an ounce, while palladium was up 2.5 percent at $601.22. The gold/platinum ratio, which measures the number of platinum ounces needed to buy an ounce of gold, held at its highest since early January on Monday.
Tuesday, May 29, 2012
Trends of gold
Gold gave up its gains on Monday as the euro slipped back into negative territory versus the US dollars. This is due to lingering concerns over the euro zone. The coming days may be critical for gold. And by friday after the US non-farm payroll datas are in, gold may no longer be in a trading range. So far, gold still remains in a downtrend.. With this depression in prices, physical demand is higher in India - capped by the weak rupee. The bond markets pointed to ongoing worries over euro zone debt. Among other precious metals, silver was down 0.4 percent at $28.38 an ounce. Spot platinum was up 0.5 percent at $1,434.24 an ounce, while palladium was up 2.5 percent at $601.22. The gold/platinum ratio, which measures the number of platinum ounces needed to buy an ounce of gold, held at its highest since early January on Monday.
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