Sentiment improved after the gold trade rose in markets worldwide in speculative movements of central banks to spur economic growth will stimulate demand.
Pricing is based on a strong dollar to put a good performance against the euro after the data of German business Sentiment fell for the fifth consecutive month in September increasing fears of recession. The dollar index recovered from its minimum multimonth while the euro fell to low levels week. Bullion is moving in tandem with the euro recently with the correlation that is placed at the level higher this year. However, investors are in pending the outcome of the major economic releases of United States as the GDP, personal consumption and information on the confidence in the next few days to suggest new address for gold. The increased interest in the ingot has attracted more investors to Exchange Traded Funds with physical holdings of gold ETF rose to record high yesterday. Physical holdings of SPDR, the global exchange of gold backed top goodwill and touched a highest level. The demand for physical gold seems stable, but is expected to increase soon in the middle of the key of Diwali and demand marriage season. However, demand from China, the world's largest consumer of the metal likely to wet in the coming days due to a week's holiday on account of the national day from this weekend. Get more information here: All About Investing in Gold (All About Series)
.It's just that technical analysis is yet willing to support massive purchases
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