Experts: indicators confirm an explosion near the low gold prices

Experts: indicators confirm an explosion near the low gold prices

Economists warned the observers and of investing in gold after the emergence of strong indicators, with the movements of large speculators in the global market to get rid of much of the gold assets, which all point to the approaching collapse of gold prices in the world.For his part, Mohammed Azouz, vice president of the National Committee for Precious Metals in the Council of Saudi Chambers, there is a collapse of expectations and a setback to come to the gold price goes the funds of small shareholders, a moment out of the top players in the market, and the entry of new players.Revealed Azzouz in his interview with newspaper "economic" on the operations of attraction for small speculators to the markets of gold by speculators who have a proportion of the global market, and anyone speculation is currently in gold through the Internet from any location, also became the gold under the control of a certain category.He explained, "there are rumors of the arrival of gold prices astronomical, and there are analysts and consulting firms anticipate a decline in gold prices until July (July) to $ 1100 an ounce, and then bounce back to more than $ 1600 an ounce, exceeding the current prices of $ 1500 an ounce, within six months future.In the view of Azzouz that some of the expectations acceptable and 90 per cent of the expectations were not real or realistic, but there are some influences and events that affect the price of gold as the impact of killing of Osama bin Laden on the prices of gold, however, "the events do not affect the long-term", but over a period of days are limited."We can not expect consistently high gold prices or decline, but there is a fluctuation going on in prices, and the reason is due to speculation on the gold, which has become less than $ 100, which is why the President; because gold has to deal, like a stock and he no longer based on global conditions that have impact on prices, but saw global conditions fluctuations affected the prices of gold, as witnessed fluctuations contributed to the decline in gold prices, while we find that the global situation in a recession some time and find a rise of prices, can not be expected constantly rising prices, but will remain in flux, the long term. "The deputy chairman of the National Committee for Precious Metals in the Council of Saudi Chambers: "I would not advise anyone to invest through speculation, electronic actual trade is the trade profitable without anxiety or tension, while speculation create tension, and warn the small speculators from speculating in gold, confirming the loss of those funds and loss of the lack of experience and do not bear the loss, and thus exit from the market, with its first loss, as each trade at risk in a time of recession, and can not be handled only by specialist traders, and not speculators. "
"There are processes for small to attract speculators and investment to contribute all their possessions, and ultimately will earn a small-scale speculators, pointing out that the development of a policy to attract small investors to speculation, and speculative trading is incorrect".And reflected the strong speculation on the gold pumping huge amounts of metal per year in the gold market in the world last year amounted to about 4110 tons of gold, of this amount has been asked about 3910 tons, of which some 990 tonnes of gold in the form of ingots.