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The gold breaks the barrier thousand dollars - Analysis quote market raw materials

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The price of gold breaks the barrier of the 1,000 dollars the ounce

AEMP Madrid 14 of September 2009 (AEMP) - The past Friday, the gold closed the week in 1.005 USD the ounce. The price of the metal was impelled partly by the depreciation of the American dollar and by the news that surprised the market of which Barrick Gold (NYSE: ABX), gold the producing major of the world, confirmed the repurchase of their contracts of cover.
The past week a considerable increase of gold purchases also took place through diverse Quoted Bottoms ETF, that talk back the price of the ounce. From March of 2008, when the gold I reach its maximum historical nouns of 1.030,80 dollars, its price did not exceed the barrier of the 1,000 dollars the ounce in London Bullion Market (LBM).

“To reach the 1,000 dollars the ounce she is only one of the first stages of a great bullish market for gold. The gold maintains its value when all the other assets lower. The gold is money. She is oldest and most solid of currencies since it is not possible to be created of the anything or by decree of the central banks as paper happens to currencies/. ?, it indicates Marion Mueller, director of OroyFinanzas.

Why raises the price of gold?

Graph 1. Evolution of the value of gold between years 2000 - 2009. Source: Kitco
“The reasons for the continued ascent of the price of gold are due to look for not only in the inflation, nor in the depreciation of the dollar but in a fan of economic, financial and political factors that are causing to malaise and distrust between the investors worldwide. This will be translated in raised majors of the prices of gold?, explained the director of OroyFinanzas, the specialized digital newspaper in the market of gold, in Castilian.

A very important factor that really it has meant a change in the market these last months, is that the central banks that until now were gold salesmen, have put brake to their policies of sales. Some countries, like China, or Russia is even beginning to buy gold for their reserves. The purchase of ingots and currencies has gone off anywhere in the world, the refineries that coin gold do not give supply.

The paper of China
In the future of the price of gold, another factor to consider is the one of the policy of gold purchases of the government of China. The past month of April Hu Xiaolian, lieutenant governor of the Popular Bank of China, announced that the central bank of China had increased its reserves of gold in 454 tons, from year 2003. At present, the central bank of China owns in its reserves 1,054 tons of gold.

In agreement east announcement, China will continue buying gold for its reserves, it is doing but it so that it does not affect too much to the world-wide market of the metal. It is not a secret that the economic advisers of the Chinese government are worried about the carried out monetary policies by EE.UU. China deeply has expressed their preoccupation of which these monetary policies lead, in the next years, to a galloping inflation and the corresponding devaluation of the American dollar. China is lost the confidence in the dollar and is trying to increase its reserves of gold.

Cheng Siwei, ex- Vice-president of the Permanent Commission of the Communist Party, and at present a species of economic ambassador of China for the world indicated recently that: “the gold is definitively an alternative, but when we bought, the price raises. We must make it with well-taken care of not stimulating to the market?.

If the interest of China by gold is real as everything seems to indicate, it is an important support for the present prices of gold. China occupies for two years the first gold world-wide producing place as of the world and shortly it would exceed to India like first world-wide gold consumer. India is at the moment gold the consuming major of the world but it does not produce the gold that consumes. World-wide official Gold reserves. Source WGC (World Gold Council)
1º the USA 8.133 tons metric
2º Germany 3.412 tons metric
3º the IMF 3.217 tons metric
4º France 2.508 tons metric
5º Italy 2.451 tons metric
6º China 1.054 tons metric
7º Switzerland 1.040 tons metric 
The future of gold
 VIDEO: ·         The White Dra. Maria, Doctor in Economic and Enterprise Sciences by the University of Alcala of Madrid and professor of History of the Economic Thought in University CEU reviews the importance of gold like monetary assets in the future



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