Ikon forex "Spot gold got stabilized early in Asia forex market for doubt in EU natio


Active Trader
Oct 30, 2010
International spot gold forex price steadily went up early in the Asia forex market on Wednesday (January 12), and the major reason was for the affection of the surging up of the oil price in US as well as the panic emotions on the forex trend of EU national debts in the forex market.

Spot gold slightly surge up by 2.31 US dollars to 1382.76 US dollars per ounce in the trading session of Asia forex market, and the highest point it had reached was at 1384.45 US dollars per ounce. The gold future contract which was due in February in United States went down by 1.5 US dollars to 1382.8 US dollars per ounce.

Oil price in US got stabilized at above 91 US dollars per ounce early in the Asia forex market on Wednesday and in the previous trading session two oil fields were closed in the North Sea, meanwhile the major petroleum pipeline in Alaska was still closed also and this made the price of oil surge up sharply.

The forex price of EUR/USD continued to go up high for two forex trading days in succession and then early in the Asia forex market on Wednesday lack of the energy to go up, the space for surging up in short term would be quite limited. Affected by the panic emotions of the EU sovereign debt problems, before the national debts in EU started to be sold in the forex market, the investors should hold a cautious attitude.

The world’s largest list gold ETF SPDR Gold Trust said its gold holing had went down to 1271.467 tons until January 11, and that of January 10 was 1272.682 tons.

The world’s largest list silver ETF iShare Silver Trust said its silver holding until January 11 had went down to 107865.51 tons.

The forex price of spot gold was at 1383.80 US dollars per ounce at 10:18 Beijing time.

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Edited by Laura.