Actualidad

Gold prices fall to US$1.362

| 3 min de lectura
SD. Gold is a safe refuge in times of crisis. Nonetheless, over the last few days the price of the metal has begun to fall on the international markets. Last Friday the price fell for the seventh straight session, its biggest downward streak in four years. It closed at US$1,362.20 the ounce, losing US$23.90, a 1.72% drop from the day before.

This data from the commodity market of the New York Stock Exchange and of which financial analysts and the Wall Street Journal are echoing, are a break from the positive outlook held in the Dominican Republic. If this downward tendency continues with gold prices, the resources that the government will receive will be less than was projected.

The government, after the agreement reached with Barrick Gold, would receive US$2.2 billion over four years. For this year, they had projected receiving US$550 million from gold exports as long as the price stayed at US$1,600 the ounce on the international markets.

Over the last decade gold has gone up steeply. The price has multiplied by seven, from US$200, and in 2011 it reached it historic high of US$1,920. Over the last 18 months, prices have varied between US$1,600 and US$1,800 per ounce, but since the month of April, the price of gold began to fall down to US$1,400, reaching a minimum of US$1,320 in the middle of last week.

The fall on Friday was the biggest falloff due to the fact of an increase in the value of the dollar, after comments by an official of the Federal Reserve of the United States with respect to Fed would soon be able to reduce monetary relief.

That day, the price of gold operated with a maximum overnight of US$1,388.60, and a minimum of US$1,359.30. On Thursday it closed at US$1.386.10 in New York.

The decrease in the price of gold, according to analysts, has to do with the strength of the dollar and with the numbers regarding the fall in production in the Chinese economy, which has grown less that was predicted, which has minimized the hope of investors with respect to the recovery of the world economy.

Another factor was that last week, Cyprus announced that it planned to sell some of its gold reserves, which has increased the worry over the situation of the countries in the Euro zone. They cite, in addition, the fact that the "tug-of-war" in the gold market is going on between the strong purchases of physical gold in Asia and the sale of virtual gold.