Monday, October 28, 2013

Gold aiming new heights

Two months in that uncertain global situation gave the gold a push as the safest investment during that time some governments found that risky to keep their gold reserves; in September Russia reduced its reserves by 0.37 metric tons for the first time in a year. 

But that was not enough to hit gold price so the opposite countries raise their reserves i.e. Turkey, Mexico, Canada and Kazakhstan. 

Turkey reserves rose during October by 2.9 metric tons reaching 490.3 tons, the highest in 2 years, so as Kazakhstan’s central bank raised its reserves by another 2.52 metric tons reaching 137.04 tons as five years high bullion. Canada and Mexico also raised their bullions by 0.1 metric tons. 

Today, Gold is showing another Bullish trend again after Friday’s fall which reached $1354.34 per ounce as today’s high, and $1352.98 per ounce as trading average price.

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