Goudprijs daalt door ontbreken financiële stimulans......
Intro:
Gold edged lower on Thursday, dropping for a fourth session out of six, as investors remained cautious on indications the Federal Reserve was unlikely to launch more monetary stimulus until U.S. economic conditions weakened further.
Volledige analyse:
Gold's fortunes this year have largely depended on the Fed's attitude towards monetary easing and its impact on the dollar. The greenback and bullion typically move in opposite directions and lately the dollar has trumped gold as the preferred safe-haven bet.
The dollar stood close to a two-year high against a basket of major currencies, having pushed the euro to a two-year low after minutes from a Federal Reserve meeting dashed hopes of policy easing moves anytime soon.
"Europe is doing badly and investors are struggling with whether we will have QE (quantitative easing)," said Ronald Leung, a physical dealer with Lee Cheong Gold Dealers in Hong Kong. "As the economy slows down in China and Hong Kong, gold consumption is also affected."
Investors are now waiting for Friday's GDP data from China, one of the largest consumers of gold, for clues on the health of the economy after latest data from the country stoked concerns about the strength of domestic demand.
Spot gold lost 0.4 percent to $1,569.11 an ounce by 2.34 a.m. EDT. Leung said physical buying emerged when prices dropped near $1,560 in the previous session.
U.S. gold futures contract for August delivery inched down 0.4 percent to $1,569.20.
Technical analysis suggested that spot gold is neutral between $1,564 and $1,582.80, said Reuters market analyst Wang Tao.
DOLLAR DENTS
Gold prices could remain under pressure from a strong dollar and the lack of a clear signal on the Fed's next move.
"We are maintaining our near-term downside bias for gold and suggest shorting the market at $1,580, targeting $1,554, with a stop at $1,600, given waning risk appetite and implications for a stronger U.S. dollar, which are likely to keep downward pressure on gold after the recent failure to maintain a rally above $1,600," said ANZ in a research note.
Credit Suisse cut 2012 gold price forecast to $1,680 an ounce from its prior forecast of $1,765. Growing concerns about debt deflation and improving growth prospects in the global economy are the two scenarios in which gold would perform poorly, the bank said.
The bank also lowered its silver price forecast to $30.50 from $33.50.
Spot silver lost 0.7 percent to $26.88.
On Europe's government debt market, yields on Spanish and Italian bonds eased, although doubts over proposed measures to tackle the euro zone debt crisis allowed Germany to pay a record low average yield.
Investors will closely watch Germany's top court's judgment on the EU's bailout fund and fiscal pact, which may take months to come through.
By Rujun Shen
