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All is not gold that glitters: This phrase gets what is probably a new meaning. The value of the yellow precious metal continues to drop and controls its fourth consecutive monthly loss.
The precious metal gold controls the longest losing streak in since August 1999. Recently joined the troy ounce, which is equivalent to around 31 grams, to 1558.75 U.S. dollars changed hands. The bullion price is 6.2 percent lower in May than in April. This is the largest price decline, which was recorded in the current year in a single month. The move from crisis to protect risk value became apparent for some time.
In the course of the financial and banking crisis since 2007, gold climbed from a record high to the next. For years, the precious metal was from the increased nervousness of investors profit and was consistently run as a safe haven. With the recent development of the European sovereign debt crisis, however, the tide has turned: gold since the middle of last year acted as increasingly risky investment and gets in financial turmoil in the downward spiral.
Strong selling pressure on gold
Experts can call for this change but some factors: "There is no convincing reason why the central and right but it is not," admits Carsten Fritsch. The commodities expert who at Commerzbank Daily observed the gold market place, it is particularly noteworthy that gold is currently much stronger selling pressure as other commodity classes. Finally, many commodities are valid as opposed to gold as a risky investment.
Nevertheless, there are important reasons why gold is declining in the investors' favor. Thus, the dollar has boiled up again in the wake of Euro debt crisis noticeably gained value. For many investors, a firm U.S. currency more expensive the purchase of gold because the precious metal is traditionally traded in dollars. The suppressed demand and therefore charged the price of gold.
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Longest losing streak in 13 years: crisis monetary gold no longer convinces investors - read more on FOCUS Online:
