Gold prices fell in early European session slightly but remains stable over $ 1,600 per ounce with expectations that the ECB will buy government bonds of countries struggling to contain the European debt crisis, and investors that the Bank manipulated FBI agent became close to launch a new round of quantitative easing.
Hover gold prices since the beginning of the week above the psychological barrier of $ 1,600 an ounce benefiting from increased euro after German Government backtracked on its position and supported the proposals of the European Central Bank Governor Mario draghi to buy government bonds from Italy and Spain for control of high yield bonds.
Growing expectations that the European Central movement after European Central Bank Governor Mario draghi in past interest resolution that monetary policy makers will do everything necessary to ensure the safe rescue system the single currency (euro), including control over the surge in borrowing costs.
Gold prices traded within a narrow range, with investors continuing suspense the ECB purchased bonds of struggling European countries, having manipulated the investors will decide this step in the next few weeks, and this is what will boost demand for gold as an inflation hedge.
Gold prices fell in real-time at 06: 35 GMT by 0.20% registered trading levels 1, $ 607.51 per ounce and recorded the highest at 1, 612.44 $ and lower at 1, $ 607.40 compared with the opening price at 1, 612.13 $, silver prices traded around $ 27.93 levels per ounce compared with the opening price at $ 28.11 and minimum recorded at $ 27.92 up when $ 28.12.
Gold prices derived its strength with the US dollar on the lowest level for three weeks with the talk about ease monetary policy in the United States weaker US dollar, and push investors to buy gold as a hedge and increased gains on gold.
Investor speculation built to facilitate monetary policy in the United States on the latest us jobs report, which noted the high rate of unemployment, despite the rising number of jobs added to the economy, and recent US data growth slowing growth this year faster over pressure on Federal Bank near United States of monetary loosening to support economic growth.
Dear reader, will keep gold prices traded within a narrow range during the current period until the Central Bank move, especially with the absence of basic data of important global economies as well as the decline in trading volumes.
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