Soft Gold Market

The gold price is still below USD1300 despite the expectation of a comeback based on large demand. This time, analysts warn consumers that the gold price has great potential of furtherdrop.


Gold enjoyed a 14% increase from its June lowand reached its peak of USD1350 in July, but its price dropped to USD1286 yesterday.


When gold price started to drop in April, major money managers and hedge funds sold their gold positions to prevent further loss, while buyers in Asia flooded into gold market wishing to make a fortune.

Gold price usually shows the opposite tendency to US dollar resulted from their different properties. People invest in gold to avoid risks such as inflation because gold belongs to precious metal and has very high value. However, gold can’t bring interests like US dollar.Therefore, during economic or political crisis, people always rush to buy gold.

Though recent headlines indicating that gold is in backwardation, most major investors are still sidelined and waiting forfurther information.


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