World gold price is expected to back down

GOLD PRICE

World gold price is expected to back down

LONDON. The contract price of gold is predicted to return dropped for a second day in London. At 09:38 London time, the contract price of gold for quick delivery fell 0.3% to U.S. $ 1,813.68 per troy ounce. Meanwhile, the contract price of gold for December delivery fell 0.5% to U.S. $ 1,816.80 per troy ounce on the Comex, New York.

Easing of anxiety-related European stock markets boosted demand for gold as well as trim as an alternative asset. "The statement issued by the leadership of Germany and France related to Greece to help ease the anxiety will default to Greece so as to encourage action to buy on the stock market," explained Nick Trevethan, a senior commodities strategist at Australia & New Zealand Banking Group Ltd.

Even so, Trevethan predict, gold prices could climb back to the level of U.S. $ 1,900 if it is approaching U.S. $ 1,850.

Just for the record, a record price of gold is created on September 6 at the level of U.S. $ 1,921 per troy ounce. This year is the year that the bullish gold-11 as investors move to diversify its investments from the stock market and currency markets. It is not surprising, because the price of gold has surged 27% this year, outpacing the global stock market surge, commodities, and government securities markets.