The gold price has overcome the recent small dizzy spell and the level of $ 1,600 quickly recaptured. Now shake the downward trend, a breakout would probably take a hefty price to push themselves.
At first glance this may seem surprising, because the dollar is currently very strong and the recession in Europe provides pressure on inflation - both are really bad for the price of gold .
But the investor the right to counter the potential for central banks have in mind. In particular, the ECB knows that Italy and Spain, no further worsening of the crisis can take longer. If both countries at the same time be ripe for the European rescue package, this would be overburdened. Therefore, the ECB - at least the most recent statements are to be interpreted - intervene on short or long, no matter what the cost.
If let go, but the central banks all the rules in order to extricate the U.S. from their financial distress, then it is not a commitment to consult with gold badly.
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