Gold Price Driven by Market Influence

Mineweb reported that gold prices are influenced market behaviour, currently mostly driven by global investors.

As quoted in the market report:

 We have seen that in the last two days prices as gold moved up in the euro instead of alongside it. That may continue, but traders and dealers will try to turn it today as it hits overhead resistance. Precious metals are acting as a currency counters, not with them now. This is of importance to investors as it signals that precious metals are not sliding as normal with the euro, but have broken away from all currencies showing a sense of worry in all currency markets.

To view the whole Mineweb report, click here.