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| Commodity Gold Prices |
On the contrary the data analysis is showing strong indications of growing shortages and furthermore that the commodity Gold and Silver markets are approaching tipping points that will lead to a rushing of price appreciation in coming months.
Gold held on top of this week's rise again on Wednesday, pushing back above $1400 per ounce as world equity markets fell and crude oil rose to new two-year highs as fresh anti-government protests hit the gulf state of Bahrain.
Gold gone in the previous session closed almost one percent higher in last session due to tensions rose in Libya and on expectations that tension across the Arab world may slow down economic recovery.
Demand for commodity yellow metal as safely increased in the current month as economy is witnessing turmoil on various fronts. Gold also gained on commodity news that top metal consumer China may hike its interest rates in the near term.
The commodity Gold opened higher today and traded positive during initial hours. Spot Gold rose by 0.05 percent to 1416.83 USD per ounce. Movement in commodity Gold market is now being driven by geopolitical factors.
Crisis going on in North Africa and Middle East may push commodity gold higher in the near term. The buying in commodity silver may also continue in the near term and the same may outperform gold.
As far as the general argument is concerned, the unrest in the Middle East is spreading and markets worldwide are pretty nervous. Fears of shortages as disorder moves across oil-producing nations drove up the price of crude in last 3 days, while other investors fled risky assets and sought the safe haven of Gold.
