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The price of Gold yesterday posted its largest drop for 2010 so far, due to the appreciation of the dollar, - a trend which Generates a lower appetite for commodities.
Price of spot gold dropped 0.9% yesterday morning on the London Exchange, to 1,128.60 dollars/ounce. Around 11.25 AM, price was 1,132.60 dollars/ounce. On the Comex division of the New York Mercantile Exchange, the price of February gold dropped 0.3%, to 1,132.10 dollars/ounce.
According to experts, if the dollar recovers, then gold will be pressured to the downside.
The price of gold has risen between 2000 and 2009 due to the depreciation of the dollar. The price of gold rose 24% last year, when the steps taken by the American Government to stimulate the economy caused the dollar to depreciate by 4.2% against a basket of six of the most important currencies. The price of gold reached a maximum high on December 3rd, 2009: 1,227.50 dollars/ounce.
At the end of last year, experts anticipated that the price of gold may range between 1,000-1,200 USD/ounce range in the first half of the year, to rise to 1,500 dollars/ounce in the second half. A
Yesterday in London, silver dropped 0.2%, to 18.1750 dollars an ounce, and platinum dropped 0.7% to 1,546.25 dollars/ounce.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
