Gold prices inclined as US dollar lost strength though no data was released by major economies during the last trading day of 2011, as traders began to
Gold prices inclined as US dollar lost strength though no data was released by major economies during the last trading day of 2011, as traders began to close their trading position, however worsening debt crisis in Europe has boosted risk made traders seek safe havens such as the U.S. Treasuries during the last days.
Now, eyes will be spotted on the upcoming year, and the performance of the European economy, especially after the ECB lent the European banks cheap money, and if that money will help the euro zone to continue recovery process amid big challenges.
Accordingly, we should expect more fluctuations for gold, but should the current pessimism persist, we should expect gold prices to extend the rallies, however, the level of uncertainty is very high, so investors are ought to remain cautious.
