Four Days on Profit Selling but Gold falls for the First Time
27-05-2010: Gold prices fell for the first time today, after three days of rallying prices. In future trading, from the then price of 1209.70 dollar an ounce, the price of gold fell by 5.60 dollar, 0.5 percent. James Moore termed it “as profit taking emerged” the prices fell.
However, he also stated that the steady influx of investment demand and continued concerns may cause the gold prices to climb.
At the same time, China’s State Administration of Foreign Exchange has stated that the reports that stated the country reviewing its euro holdings were utterly groundless.
The state authorities mentioned that Europe has been and will continue to remain a major market for China to invest their exchange reserves.
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Posted by DianaMereoiu on May 28 2010 Filed under Economy. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
