eyes second week of falls
LONDON (Reuters) Gold steadied canada goose deals on Thursday to around $1,700 an ounce after its decline to canada goose coats one month lows this week Canada Goose Jackets triggered some bargain hunting, and as a slightly weaker dollar lent support to the precious metal.
Gold and silver bars are pictured in front of a safe door at the Austrian Gold and Silver Separating Plant ‘Oegussa’ canada goose clearance in Vienna August 26, 2011. REUTERS/Lisi Niesner
At a meeting buy canada goose jacket in Europe, France and Germany agreed to stop arguing in public over whether the European Central Bank should do more to rescue the euro zone from its deepening debt woes, but otherwise offered no new hope for ending the crisis.
Although gold is regarded as a safe haven asset to shield investors in times Canada Goose Parka of uncertainty, it has increasingly become prone to pressure from selling in the wider financial market, moving in canada goose outlet toronto factory tandem with other riskier assets. EST (2000 GMT), up 0.1 percent in a holiday cheap Canada Goose thinned session. On Monday, it hit a one month low at $1,665.88 an ounce. Gold is set for a second weekly decline, off 1.5 percent this week. gold futures canada goose for December delivery slipped 40 cents or 0.02 percent, with turnover of 49,000 lots Canada Goose online the lowest since the Christmas holiday last year.
is having some difficulty holding above the $1,700 level over the last few days. dollar will probably dictate where we head from here, said Ross Norman of Sharps Pixley.
The dollar traded slightly lower against a basket of currencies. dollars cheaper for holders canada goose black friday sale of other currencies.
Gold, which hit a record above $1,920.30 in September, is up more than 19 percent in the year to date. So far in November, it has lost 1 percent.
CRISIS CONCERNS The euro fell to the day low versus the dollar after German Chancellor Angela Merkel said she still does not think common European bonds are necessary, intensifying concerns that European leaders cannot agree on solving the debt crisis.
France pressed Germany on Thursday to Canada Goose Online let the European Central Bank act decisively to halt a stampede out of euro zone government bond markets that has raised doubts about the survival of the single currency.
Germany itself suffered a failed bond auction on Wednesday, highlighting how investors are wary even of Europe safest haven.
The threat to the euro from the crisis increases the chances for gold to ease further, analysts said. dollar driven is evident from the fact that cheap canada goose Canada Goose Coats On Sale gold calculated in euros has been able to rise, Commerzbank said in a note.
gold is continuing to be sold to generate liquidity https://www.goosesale.ca and compensate for buy canada goose jacket cheap losses in other asset classes. If equity and commodity markets continue to remain under pressure, this trend is initially likely to continue.
Gold priced in euros was a touch higher on the day, canada goose coats on sale trading around 1,271.51 euros an ounce, but has risen by nearly 2 percent in the 2018 canada goose outlet last three trading days, its Canada Goose sale strongest three day stretch of gains in two weeks.
wouldn surprise me if we still have canada goose replica another shift lower to test the big line of support, which is the 200 day moving average, which is getting close to $1,600 level, Tom Kendall, precious metals analyst at Credit Suisse, said of the price of gold in dollars.
Gold hit a canadian goose jacket 2 1/2 month low of $1,534.49 in late September, which was roughly the location of the 200 day moving average.
Silver prices were also slightly higher, tracking gold modest gains. Spot silver was up 0.25 percent on the day at $31.75 an ounce, but remained on track for a 7 percent decline in November.
A senior official at ScotiaMocatta, a bullion dealer, said on Thursday that Indian imports canada goose store of silver would be canada goose clearance sale marginally lower this year compared to last Canada Goose Outlet year.
Reporting by Clare Kane; canada goose outlet store locations Additional reporting by Harpreet Bhal; Editing by William Hardy and Jan Paschal.