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Euro gold popular January gold prices to strong performance

last Friday (January 2) Gold recovered nearly a month lows, analysts said, the gold market has some short covering occurs, and some people are buying on the cheap.

in 2015 the first trading day of the year, gold markets up and down swings in 27 dollars an ounce, silver prices also had a great deal of volatility.

Forexlive.com Forex strategist Adam Button: "changes in the gold market is 2015 an impressive start. "

as European Central Bank Chief Mario Draghi on Friday (Mario Draghi) statement, euro down against the dollar, led to the price of gold fell to $ 1167/oz level.

the dollar index breaking through the level of 91.

However, according to some analysts, due to the December production data disappointed, some gold investors have to short covering.

iiTrader commodity broker Bill Baruch said, after hitting a 1-month lowest level, some gold traders are disappointed about the gold price failed to lower, so fast short covering.

in addition to short covering, said Bill Baruch, gold becomes a more attractive currency in the euro zone, so gold was further increased.

Baruch said: "the euro gold price touched its highest level in 2013, I think the euro will go down for a long time, so people looking for hedging asset, gold is very attractive. "

Button also believes that in Europe becomes a more attractive investment, a lot of safe-haven demand.

Button said: "Germany's five-year yields turned negative, so why investment Germany bonds instead of buying gold. "

in addition, the Button that the markets there have been dips in January is usually gold good month, especially in the Asian market.

Button said: "not only a seasonal factors, factors in addition to a stronger Chinese economy by February may even be pushed gold prices to $ 1300/oz level. "

However, and some analysts believe that gold prices this week will have a lot of volatility, because of some of the key data to be released this week. Including the European Central Bank meeting, minutes of the Fed meeting as well as United States non-farm data.

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