Gold Fundamental Analysis October 2, 2012, Forecast

posted
By FX Empire Analyst - James Hyerczyk
Print
Font Size
T
T
T
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Despite the recent strength in the U.S. Dollar since mid-September, gold has remained relatively strong. This is because gold is being treated as both a reserve currency and as an investment. Since the U.S. Federal Reserve and the European Central Bank both applied fresh stimulus to the market in early September, there has been a bid under the market. This is one of the reasons why gold reached a new high for the year on Monday. As long as there is demand for risky assets and investors are willing to give up the safety of the U.S. Dollar, look for gold to remain firm on Tuesday. 

Find a Broker
Continue to FX Empire Network