The price of gold this week predicted back down in the range of U.S. $ 1,645 to U.S. $ 1,680 per ounce. Improving economic conditions prompted investors to leave the gold and move on to other investment instruments.
"These improvements make the switch from safe investments into more risky as the stock market. So gold will be left for a while," said the Head of Research and Analysis Futures PT Monex Investindo Ariston Tjendra when talking with Liputan6.com, Monday (28/1 / 2013).
Having had penetrated the highest level of U.S. $ 1,695 per ounce last week, gold prices go down quite deep so it takes time to get back to that level.
Especially on Friday this week, the United States will re-launch the employment data are assumed to be depressing the price of the precious metal. Plus lately, U.S. employment data showed an improving trend.
"If the positive U.S. employment data again, then gold will become depressed," he said.
Another factor is the approval of the U.S. Congress has approved the removal of the debt ceiling until May 19, 2013, so the U.S. government's borrowing capacity automatically go up to meet the purposes of payment of the U.S. Treasury Department.
"This provides a positive impact to the risky assets and making gold distressed," he said.
Commodity market observers, Rev. Tribowo Laksono also expect gold prices will go down this weekend. If the price of the precious metal fell to as low as U.S. $ 1,600 per ounce, the pattern of price movement back about U.S. $ 1,550 to U.S. $ 1,700 per ounce.
"But if you can pass the U.S. $ 1,700 that can be in the range of U.S. $ 1,750 to U.S. $ 1,800 per ounce," he said.
The decline was not only experienced gold, other commodities such as oil and silver are also predicted to fall. The dollar also weakened. "Unless the euro today are at the highest level due to the impact of the European economic recovery," he explained.
In addition to switching to the euro, Rev. assess current stock because investors tend to collect the U.S. stock market had penetrated the highest level since 2007. "It's attractive to investors because the stock market for eight consecutive days continue to rise. This best hikes in the last eight years," he explained.
At the close of trading on Friday (25/01/2013), the price of gold on the COMEX division of the New York Mercantile Exchange (NYMEX) for delivery in February fell by 2%, at 1656.6 per ounce.
According to Kitco gold survey, market participants are pessimistic price will not penetrate to reach U.S. $ 1,700 per ounce within the next 2 weeks.
Survey of bullion dealers, investment banks, futures traders, fund managers and analysts predict gold prices will fall over the next week.
A total of 12 respondents believe gold prices will plummet in recent weeks, while only eight respondents who saw the possibility of price rises. Five respondents said the price of gold is still moving not significant at the same level.
Respondents who said gold prices will come down on the grounds that the gold price could not penetrate at U.S. $ 1,700 per ounce due to the delay in the debt ceiling debate over the United States, where it spurred sales of gold.
Besides the gold stock market weakness in the S & P 500 in the past five years no interest in getting people to invest in gold.
"I think gold will trade lower than those predicted at the level of U.S. $ 1,550 per ounce. They also expect economic growth quite well, so more people will buy gold, but I did not," said Ken Morrison of Morrison On The Markets as quoted by Forbes
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