No commodity demand by investors to buy most of the time but have setbacks and not exempt gold. The limited trading on the yellow metal in the most in 2012 at $ 1.525 and 1.795 an ounce.
Review of the most important headlines pertaining to the price of gold during 2012.
Gold progress about 11.1% in January from the lowest level 1.252 to 1.740 dollars per ounce, and was the primary motivation for this rise is the cautious tone that spoke to the Federal Reserve during the last meeting. Where the committee voted in favor of extending the time frame for the survival of the benchmark interest rate at zero until late 2014 and since mid-2013. In addition, it has provided new words during the official statement issued by the Committee;, where she seeks to implement monetary policy harmonic stay policy in the near future.
It is noteworthy that central banks worldwide had purchased 351.8 tons of gold with a total of up to 11.3 million ounces in the first 9 months of 2012 advanced by about 2.0% on an annual basis.
As for the central bank of South Korea, has added 14 tons (nearly 450 thousand ounces) of gold during November and owns stock equivalent stock 6 times since June of 2011.
Brazil has purchased 18.9 tons (607.650 per ounce) in September and October only. It is likely to buy more where gold still represents 0.8% of its reserves.
And Portugal bought 7.5 tons (241.130 ounces) of gold in July.
Turkey has imported 4.2 tons (135 thousand ounces) of gold in November. And had purchased 117.2 tonnes (an estimated 3.7 million ounces) of gold so far, nearly double the purchases compared to last year.
And Argentina, have added to the 7-ton stockpile to last year (225 thousand ounces), Colombia bought 2.3 tonnes which is approximately 74 thousand ounces.
Fed called the third round of monetary easing
By Ben Bernanke, Chairman of the U.S. Federal Bank in the 13 of September of 2012 to end a long way from expectations that the Bank will launch further monetary easing to support the economy in the United States, with the launch of the third round of monetary easing.
The market reaction was quick and positive about deep, where gold rose sharply to the highest level recorded since the 7-month low of 1.775 dollars per ounce within minutes of the decision.
When will end gold trading by the end of this year?
With the downward direction of gold at the end of the year, has not seen the yellow metal increased significantly only in the past few days on the back of uncertainty about the U.S. budget talks. Gold fell by nearly 2.0% this week to the lowest rate recorded since August with desperate sales and renewed hopes about the approaching U.S. lawmakers to reach agreement deter a slope financial crisis presumed on the first of January of 2013.
In this week’s record gold 1.660 dollars per ounce to be trading at its lowest level recorded since the 3 and a half months, August 31. Based on our technical analysis, if you saw the yellow metal further decline will be limited for now as the price of gold falls back when the arithmetic average for 200 days.
And it seems the financial downturn faced by the United States has concentrated all eyes traders from the market until the end of the year. The crisis also represents the mainstay of the dollar and gold prices. We also expect that is limited to the price of gold at the end of 2012 as between 1670 and 1680 dollars per ounce.
Expectations of gold price during 2013
We start with technical indicators of the price movement of gold, in the case of continuing state of anxiety and uncertainty about the U.S. financial slope in the near term and its negative impact on gold would be up to the level of 1660 to focus backed by the arithmetic average of 200 days at the current time. In the case of falling gold from the lowest level in 6 weeks at 1.600 has done moratorium on sales Here are heading towards level 1626.
As well as in the case of falling gold below this level will be directed towards 1588 and will increase downward pressure on him during the first quarter of 2013 to support the basic 1520, and who could not broken throughout the gold in 2012.
The upward trend in the case continue to receive support at 1660 gold will be heading towards resistance 1674 and worked as a key support level for gold when there were reports the non-agricultural sector employment the U.S. in November. As for the resistance that followed is at 1688. In the case of gold skip this level, it will start a new wave of recovery facing minor resistance levels until it reaches the level of 1700.
In the long term (6-12 months) outlook remains boarding list price action with the resumption of the emerging wave after skipping Gold Resistance 1700. We believe that the trend line will be completed, which began in 2012 boosted by the significant economic data relating to the United States and the basics of the euro zone.
It will be the global demand for gold in 2013, a pivotal role in the movement of prices controlled by the three largest economies in the world: China, India and Germany.
China: There are many indicators about the end of the wave of the economic downturn in China and the beginning of a new phase of recovery. It is likely to increase the demand for Chinese gold by about 10% during 2013, about 800 tons this year will accelerate the pace of economic growth in the world’s second largest economy as the World Gold Council said.
India: You have reached India to imports doubled in three years and doubled the demand for investment to five times. This has coincided with the rise in gold prices in the country already has strong cultural tendencies towards the precious metal.
The role of government largely through its interventions in the market, but there has been no decline in the demand for gold in India. And will continue the current trend of the price movement has been increasing its pace with the rise in inflation in the period ahead.
Germany: A group specializing in trading on gold recently that Germany had raised the buying of gold because of fears Come fears and doubts about the euro zone crisis. Economic analyzes have shown that citizens are considered gold is an integral part of their investments.
Given the monsoon session of the gold, is January of the strongest months for the price movement of gold consumption due to the wedding season in India with the entry of new capital from investors to the market. Based on historical data the gold could rise during this season above the level of 1700. Overall we expect to pursue gold accidental movement during 2013 between 1600 and 1800 dollars per ounce.
Are likely to be affected by gold prices widely situation of anxiety that pervades the U.S. and European markets during 2013. Where is expected to continue the economic problems of those countries without a radical solutions in the next phase. Given the outcome of any situation recently, we expect higher gold from its current level at 1670 dollars an ounce to record strong earnings in the long term, so we recommend to start buying it through the stages of decline.