Go Finance Reporting - The price of gold in the Asian spot market eventually ramp after three consecutive days following the Euro rally. The investors own monitor China's key economic data to see the prospects of monetary policy are likely to occur in the country.
As quoted by Reuters on Thursday (01/20/2011), the spot price of gold fell 0.1 percent to a level of USD1.368, 45 per ounce. Meanwhile, gold futures market in the United States (U.S.) also declined 0.1 percent to USD1.368, 4 per ounce.
The decline was driven by a number of events taking place include the demand for new housing during last December showed the lowest decline in the past year, it is pointed out as major obstacles the U.S. economic recovery.
In addition, concerns about the debt crisis in the euro zone started to subside after Germany made plans for Greece to allow them to work harder to prevent a worse crisis. In China, reports China's economic growth is lower in the fourth quarter followed by higher inflation affect the decline in the commodity involved.
Meanwhile, market factors that affect the movement of gold today is the deepest decline in the S & P since the last two months which is influenced by the outcome of the shares of Goldman Sachs and Wells Fargo. In addition to Euro Tiu also surrender of profit taking after the Asian currency had rallied to level USD1, 35 per euro in the last eight weeks. (GoFinance)
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