Gold Fundamental research March 07TH , 2012, Outlook :
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Gold Fundamental research March 07TH , 2012, Outlook :

Miami Beach : FL : USA | Mar 07, 2012 at 9:33 AM PST
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Gold Fundamental research March 07TH , 2012, Outlook :

Gold fell off a cliff, down over 34.00 in today’s session now trading at 1670.45. Gold fell to a low not seen since early January, as backers concerned about the cut-off point approaching for the Greek PSI bond swap. Rumors were flying all day most proved false, but the market still collapsed. Investors were once again running to the $ for safety reasons, moving from the rare metal to the dollar. Also worries about the final economic environment in the eurozone began to unnerve traders, most was dwarfed for the last few weeks with Greece in the center ring. Gold had been too inflated after ballooning up so swiftly. The euro continued to drop today against all of its trading partners.

The following 2 - 3 days will give a much clearer picture once the March 8th cut-off point has passed and the ECB rate call and a few days of roles reports coming from the US.

Economic Events: (GMT)

Just a heads up since gold is variable and will respond to most economic signals we’ll begin to post the daily calendar with events that would affect the cost of gold. The gold price is susceptible to numerous booked U.S. And Euro Buck area macroeconomic announcements-including retail sales, non-farm payrolls, and inflation. Gold’s high sensitivity to real interest rates and its unique role as a safe-haven and repository of value typically leads to a counter-cyclical reaction to shock news, in contrast to their commodities. It also shows a particularly high sensitiveness to negative surprises that might lead financial investors to become even more risk averse.

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silverandgoldadvisorParkavenumis is based in Miami Beach, Florida, United States of America, and is a Stringer for Allvoices.
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