In electronic trading in Asia today the price of gold seems to have movement that tends to weaken (21/11). The price of this precious metal seemed less motivated to follow the rebound experienced by crude oil commodities. The investors themselves are still observing the continued tragedy of Gaza.
Gold prices are likely to move higher as safe-haven investments. The ongoing conflict in Gaza between Israel and the Palestinians are still heating up despite the parties seek to have happen ceasefire. Failure of efforts to reach a cease-fire is likely to lead to rising gold prices.
However, for today's market movement was dominated by concerns about the possibility of having the U.S. fiscal gap. Last night Geburnur Fed Bernanke said that the central bank does not have the tools to address the fiscal gap if the damage happened.
Today the spot price of gold seems to be the position of 1722.85 dollars per troy ounce. Commodity prices declined by 4:05 the dollar compared to the close of trading yesterday.
Vibiz Research Analysts estimate that the gold price movement is likely to be sluggish for today. The possibility of gold prices will experience movement in the range of 1717 - 1730 dollars per troy ounce.
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