Goudprijs opent deze morgen op $ 1.609......
Goudprijs opent deze morgen op $ 1.609 na een val van meer dan $ 10.......
GOLD dropped more than $10 to open this morning at $1609 after the price was unable to hold onto yesterday's high of $1626. The bullion fell with the general market yesterday as concern about the Asian economy weighs in. Japan reported a low annual GDP growth of 1.4% against an expected 2.3%, while Chinese customs also showed a 6.8% slump of output of refined copper.
We will keep a close eye on inflation risks as we cautiously short gold. A break below $1605 will have us resume short position. However, until a break below $1570, we will keep our position small. We are still biased towards the idea that long-lasting waning global commodities demand will outweigh any temporary supply shortage factors such as political tension in the Middle East that may impact on prices.
By Andrew Su