Because IMF just sell a record quantity of gold to the Central bank of India and look like China will follow suit.
Also because people are nervous about holding on to the US dollar due to the US inflation rate and the perceived slowness of recovery compared to the other economy.
Bad news for those receiving their income in US dollar or other currencies fixed-pegged to the greenback (such as Qatari Riyals)
it is the international trend; recently India bought a significant quantity of gold and it seems to go on buying, from FMI; so the price grows up. Check the international market trend, now is around 1100 US$/ounce, after the FMI sold cca 1/2 from it's reserve of cca 400 tons gold. Will increase in my opinion, too, because in crisis everybody invests in gold.
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Because IMF just sell a record quantity of gold to the Central bank of India and look like China will follow suit.
Also because people are nervous about holding on to the US dollar due to the US inflation rate and the perceived slowness of recovery compared to the other economy.
Bad news for those receiving their income in US dollar or other currencies fixed-pegged to the greenback (such as Qatari Riyals)
Some peoples thinking that investing in Gold much better than land or any other mutualfund
Thank for analysis guys... logic
me no understanding moreover why like zis? crisis finish in west territory, why here is?
Due to high demand of gold in India & other country because of festival and safe money to invest.
i thought of buying a gold ring for my girl, but i droped that idea because of the gold rate
Low dollar price pushes up the gold price as a hedge against possible future inflation.
it is the international trend; recently India bought a significant quantity of gold and it seems to go on buying, from FMI; so the price grows up. Check the international market trend, now is around 1100 US$/ounce, after the FMI sold cca 1/2 from it's reserve of cca 400 tons gold. Will increase in my opinion, too, because in crisis everybody invests in gold.
Its because the dollar is tumbling and festival and marriage season in India