Gold: an overview of the market situation

Gold prices rose sharply, rising at the same time above $ 1580, helped by the further weakening of the U.S. currency. Meanwhile, experts say that now in the market there is a marked correction after prices last week reached a 10-month low.

They also point out that the positive Chinese inflation data helped the euro, dropped while the dollar. This has contributed to the growth of interest in the assets, which are expressed in terms of the dollar, to which the right is gold.

Note also that many investors still remain cautious with respect to the metal, however, after prices fell sharply last week, gold is struggling to regain the lost ground that was lost after weak employment data in the U.S..

Meanwhile, we note that many traders will be watching tomorrow's publication of protocols FOMC, as they can provide a hint about the future of U.S. monetary policy, and in particular, any change in the policy of quantitative easing.

Also today it was announced that UBS and Deutsche Bank lowered its target prices for gold this year to $ 1,740 an ounce from $ 1,900, and 12% up to $ 1,637 per ounce, respectively.

May futures on COMEX gold rose today, and now stands at 1586.60 dollars per ounce.