Singapore Stock Market News
Gold to see a modest appreciation'
StockFanatic
Publish date: Tue, 21 Aug 2012, 10:51 AM
StockFanatic
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The buoying of gold prices above $1,600/oz since late July, as well as a potential resumption of an upward trend, spells encouragement for gold bulls. From a technical standpoint, this is significant because the upward trend seen after gold's fall to $1,540/oz in May gives assurances of a sustained rally in gold prices till end-year. From a macro standpoint however, gold prices will continue to take cues from key events like the US FOMC in Sept, as well as further potential monetary easing by the ECB and PBOC, and any disappointment on that front may depress gold prices in the short term.
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