Go Finance Reporting Singapore - The price of gold in the Asian spot market stabilized after a get tracked down in the last four days due to the cautious attitude of the Federal Reserve and the weakening dollar.
As quoted by Reuters on Thursday (01/27/2011), a thin gold prices slipped 0.2 percent to a level of USD1.344, 39 per ounce. Meanwhile, in the futures market the United States (U.S.) actually rose 0.8 percent to USD1.343, 8.
The attitude of the Fed that shows the attitude was in no hurry to cut its policies to rescue the U.S. economy to continue to purchase bonds amounting to $ 600 billion, although unemployment is still high.
Meanwhile, housing data as of December, the newly released data shows rise faster than expected to highest level in eight months and the highest since April 2008. This showed increased optimism in the housing market recovery.
For its own dollar remained at the trend decline since last November after the Fed's economic prospects tend to be more careful.
In addition to factors from the U.S., commodity prices are also driven from the annual growth of Chinese economy is expected to reach nine percent in the first quarter is where inflation is predicted to penetrate five percent.
Meanwhile, investors still expect the price of gold in the futures market will rebound to reverse the recent trend in which the buyer will increase its protection against falling prices.
From the trading floor, the S & P in yesterday's trading close higher in the last 29 months, triggered by the gains of technology stocks and commodities, so most investors ignore valuation of the Fed. (GoFinance)
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