Gold prices recede to 1032 dollars
Posted by admin . Published on 29 October 2009, Received
Gold is the only commodity that is purchased by countries and also individuals during uncertain times. The Gold prices reached a multi year high few weeks back when it touched 1065 dollars to an Ounce in the Bullion markets.
Since then the prices have been coming down slowly, and they are now trading around the 1032 dollars mark, owing to unwinding of long position by some of the big speculators.
The long term price trend for Gold is expected to be positive, as countries like China and Japan are now buying more of Gold to shore up the currency value.
