YEREVAN, April 2. /ARKA/. Gold trading was carried out quite actively last trading week, however it is already the second week that didn’t report any price tendency. As a result gold prices slightly increased by 0.38 % to 1,668.01 USD dollars per troy ounce.

At the beginning of the trading week the gold prices rose to a week minimum of 1,696.77 USD dollars per troy ounce due to Ben Bernanke’s speech at the U.S. Federal Reserve’s conference. The regulator head’s circumspect tone, expressed towards stability of the recent tendencies in the labor market as well as the regulator’s readiness to go on with using all the available tools to support economy, was regarded by the market participant-members as a possibility to continue leading soft monetary and credit policy of U.S. Federal Reserve, thus encouraging the purchase of precious assets.

However, within Tuesday-Thursday gold prices were declining against the background of total tumble in prices at the markets after the USA issued weak economic data, weak physical demand and strong U.S. dollar. The ongoing strike in India organized by the retailers against tax increase on gold import has made the largest gold importer to do away with the purchases.

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Tags: Analytics, Bernanke, gold

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