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Gold achieves a new high

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1 Gold achieves a new high on Tue Dec 01, 2015 2:14 pm

therealbubbie

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Gold rose about 1 percent on Tuesday, upping gains made ​​Monday, after he approached the lowest level in 6 years.
According to the high price of gold experts returned to cover short and low dollar positions.
Rose Spot gold to the highest price during the session at 1074.34 dollars an ounce, before it gives up some of its gains and recorded a rise of 0.7% to 1071.60 by at 06:43 GMT, according to news agency 'Reuters'.
The yellow metal rose Monday by 0.5%.
The dollar fell against a basket of currencies, after reaching to its highest level in eight months during the previous session.
Analysts said speculators are record purchases to cover short positions in gold futures Stock Exchange 'Comics', due to the lifting of imminent US interest rates, but this may support gold prices in the short term.
James Steel, an analyst at the Bank 'HSBC': 'There is potential for further short-covering of gold including operations raise prices, especially if the actual demand in emerging markets remained strong'.




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