The ECB decided to keep rates at 1% in the euro yesterday and this factor, combined with low physical demand for gold, especially in India, has contributed to the continued fall in the price of gold. Increasingly, investors view gold as other investment and its role as a refuge is losing its importance. The price of silver is also under pressure mainly due to physical oversupply of the metal, and the price of 30 dollars is a significant technical support.
May 4, 2012 Timothy Pickford PRECIOUS Argyor (AMPSA)
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The ECB decided to keep rates at 1% in the euro yesterday and this factor, combined with low physical demand for gold, especially in India, has contributed to the continued fall in the price of gold. Increasingly, investors view gold as other investment and its role as a refuge is losing its importance. The price of silver is also under pressure mainly due to physical oversupply of the metal, and the price of 30 dollars is a significant technical support.
May 4, 2012
Timothy Pickford
PRECIOUS Argyor (AMPSA)