Analytics, News, and Forecasts for CFD Markets: raw news — 06-11-2012.

Gold prices have stabilized, departing from the nine-week low, as investors are awaiting the outcome of the U.S. presidential election.

Also the focus of the market was the news from Greece. It is learned that in Greece began a 48-hour strike against a new round of cuts in public spending, which was the third in the last two months.

Note that the outcome of the elections in the U.S. depends on the future policy of the country. Some analysts said the Obama victory may raise the price of gold, so he left as head of the Federal Reserve Ben Bernanke, who was in favor of incentives, while Romney victory would be positive for the stock, as the ego policy will be based on business development and tax cuts.

At the same time, creation of money by the central bank increases the attractiveness of gold, as it keeps interest rates low, and reduces the opportunity cost of ownership for the metal.

Today's data also showed that the importers of gold in India remained on the sidelines, awaiting the outcome of the U.S. elections. Note that the import of gold in India may fall to 550 tonnes in the next year, compared with 967 tons in 2011, as high inflation and prices have a negative impact on the level of disposable income of consumers.

Gold is expected to remain above the support area $ 1675 - $ 1678 per ounce for one more trading session, as there is no sign of a break below this zone.

December futures price of gold on COMEX today rose to 1693.00 dollars per ounce.

Gold prices rose slightly today , breaking with the longest string of declines in nearly six months, as the dollar fell to strengthen expectations that the U.S. Federal Reserve will expand its monetary stimulus . Note that , according to John Williams , president of the Federal Reserve Bank of San Francisco , the economic growth in the U.S. in recent months, did not meet expectations. In this regard , he noted that the situation in the labor market are unlikely to improve without incentives.

It should be noted that the timing of a possible narrowing of the monthly bond purchases by the Fed was the main factor that influenced the price of gold. Precious metal has lost a fifth of its value so far on fears that the Fed will reduce the volume of stimulation.

Recent mixed economic data cast doubt on the real strength of the U.S. economy, leading some economists were made with the assumption that the Fed will change its policy before the end of the year.

Add that trading volumes were low in the past few sessions , and , most likely, and will remain so in the coming days , as investors are awaiting data on employment in the non-agricultural sector of the economy, which may give more clues about the state of the economy and future incentives by the Fed .

Also, market participants are waiting for the ECB 's interest rate. Improvement in macroeconomic indicators in the U.S. and the UK in sharp contrast with the data from the euro zone , where in the last week have been reported record- high unemployment and negative inflation . It is expected that the ECB will leave rates unchanged , but the dynamics of gold will also depend on the value of the dollar relative to the single European currency.

Demand for physical gold has not grown much as traders are waiting for the determined price direction . Customers in Asia are hoping to wait for a lower price.

The cost of the December gold futures on COMEX today rose to $ 1316.90 per ounce.

Change % Change Last

Oil $85.81 +0.16 +0.19%

Gold $1,683.90 +0.70 +0.04%