Kitco Round up
Gold buyers have stepped to the sidelines ahead of this weekend’s European Union leader meeting in Brussels.
The uncertainty surrounding the latest efforts by European officials to solve the EU debt and financial crisis have limited buying interest in the precious metals this week.
A firmer U.S. dollar index as the trading session progressed Thursday also worked to pressure the precious metals markets.
Reports say physical demand for gold from India’s festival season has been lackluster so far, but is expected to pick up.
Bull side: It’s likely that if the EU crisis escalates—either by stepped-up violence in Greece or by inability of leaders to come up with substantive measures for dealing with the crisis—that the U.S. dollar would see fresh safe-haven demand. An escalation in the EU debt crisis in the coming days could also prompt fresh safe-haven demand for gold even if the U.S. dollar index also rallies, and even if gold has not recently rallied on the EU crisis up to this point.
=> This is getting interesting: now both USD and gold are called safe haven and can all rise when EU down. Yes, the important point here is that EUR is considered "doomed" at the moment.
Ở VN đăng bài dọa: Giá vàng sẽ xuống 1.000 USD/ounce vào tháng 4/2012
Một trading idea khác ở đây: Giá vàng có thể xuống 1.550 USD/ounce trong tuần đầu tháng 11