Go Finance Reporting in SINGAPORE - The price of gold was observed to stabilize in the middle of the weakening United States dollar (U.S.) after Federal Reserve Governor Ben Bernanke acknowledged the economic slowdown in growth momentum. But he did not give further clues about the stimulus.
As quoted by Reuters on Wednesday (08/06/2011), the gold price moves only slightly to USD1.544, 26 per ounce. Gold in the U.S. GCcv1 also stable at USD1.545, 40.
The price of gold failed to penetrate the psychological level of USD1.550 for the second time, while positive sentiment came from Bernanke's comments on growth slow, but gold failed to stay above that level because there is no certainty about the continued stimulus package.
While the value of silver fell 0.2 percent to USD37, 04 per ounce, this means the silver price fell for three consecutive days. Silver U.S. SIcv1 moving flat at the level of USD37, 04.
While the value of U.S. dollar fell to its lowest position in the past month over other currencies. (GoFinance)
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