Laura Diaz Anchor on Gold Price

Jan. 26, 2011 - PRLog -- Laura Diaz Anchor said the price of gold in the market fell and touched its lowest position for ten weeks. Laura Diaz Anchor said this is due to signal economic growth of European economic data. Also, technically, the price of gold is entering a bearish trend.

As quoted by Reuters on Tuesday (01/25/2011), price of gold fell to USD1.331, 35 per ounce, the lowest since 17 November, when gold traded at the price of USD1.331, 70. Meanwhile, gold prices in the futures market dropped approximately one percent to USD1.331, 9.

The price of silver in the spot market fell to its lowest in two months to USD26, 79 per ounce. The Relative Strength Index fell to 33.692, its lowest since February 2010 and is a signal of reduced buying interest.

In addition, the euro rose to a peak level in the last two months there at 1.37 per USD. Wall Street indexes in the United States (U.S.) also appears to be moving positively.

Continuing the flow of optimistic economic data, euro zone data record industrial growth rose more than expected in November, confirming the strength of the euro zone recovery in the industry but the data also point to the weakness in demand for consumer goods.

Inflation in the euro zone increased rate, excluding volatile energy and food prices. However, inflation also does not measure price pressures in the future. Negative news also came from news of a suicide bomber who killed at least 35 people at the busiest airport in Russia.

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