Gold prices turned in trading on Friday (12/10) on profit-taking is done by utilizing the broker market doubts over the state of Spain today. For the price of gold with delivery in December, a decrease of $ 8.30, down 0.5%, to $ 1,762.30 per ounce. A weaker U.S. dollar could make the price of gold rose by 0.3% in Thursday trading.
Gold seems to really enjoy what the decision of the Federal Reserve at the end of September last, and with two weeks to go until the next FOMC meeting, some market participants seem have decided to take profits first.
Most market participants are still seen as a consolidation of the current state, and they also do a test market to assess the extent to which this trend will last. Psychological level in the area of $ 1.750 – $ 1.800 a crucial pre-determined levels rise further or deeper correction.
Given these uncertainties, some of which want to reduce risk at the weekend finally opted to take profits while. Surely the market pending more convincing than Spain over bailouts and how the continuation of Greece in implementing policies to address the debt crisis.
Separately, the Credit Suisse has raised its forecast for gold prices in 2013 and 2014, seeing the potential for further quantitative policy which can be added again by the United States as well as a possible increase in demand for physical gold by China and India, the investment bank raised its forecast for gold prices in 2013 could reach $ 1.840 per ounce, up 7%.