International Gold Price Fell Below $1200, The Biggest Quarterly Decline In History

< p > last Friday, there was not much financial data. The 2.3% increase in gold price was impressive.

However, according to Reuters data, international gold prices fell by 23% in the second quarter, despite rising last Friday.

This is the biggest decline since records began in 1920, and last Friday the gold price broke 1200 US dollars / ounce, the first time since August 2010.

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< p > reporter noted that some investors bought a large number of heads to worry about the possibility of a rebound in gold prices, while other investors were heavily influenced by the fund's portfolio report which had been whitewashed and increased orders on the last trading day of the bad two quarter.

Meanwhile, gold prices fell below the US $1200 mark for the first time in nearly 3 years last Thursday, making tight investors buying to hedge against further losses.

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< p > "because of some serious technical damage, the price of gold will take at least a few months to form a potential reversal advantage."

MarkArbeter, chief technology strategist at S&PCapitalIQ, said.

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< p > according to reports, in April, following the plunge of more than $200 per ounce of gold price within two days, an unprecedented upsurge of overbooking swept through gold coins and gold ornaments, which had all been snapped up, limiting the downtrend and alleviating the worries of gold market falling into a certain extent.

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P, however, the situation is different. Traders and jewellery Daily reported that although gold prices fell by nearly $200 in 10 days, global consumers were reluctant to buy, and investors were eager to get rid of the gold as expected that the Federal Reserve would begin to reduce the scale of the debt purchase scale since November 2008.

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< p > spot gold fell 2% to less than $1200 an ounce last Thursday, a low since August 2010 and a record low of 25% in the second quarter.

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< p > "gold prices plunged in April, prompting people to release demand.

Now, there is no additional demand. "

RicDeverell, head of Credit Suisse research, said.

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< p > some other factors are also restraining gold demand in India and China, such as India's recent import restrictions and China's liquidity constraints.

Physical gold purchases in these two countries account for more than half of the world's total.

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