Gold Trends In October

October was marked by numerous concerns related to the evolution of the gold market. The statistics show that businessmen had a brief period during which they were more interested in purchasing other commodities except gold bullion. As a consequence, the price per ounce diminished during the first two weeks of the month and gradually recovered towards the end of October.

The most decisive event determining businessmen to opt for investments in the commodities market was the fact that the German chancellor Angela Merkel and the French President, Sarkozy announced their intention to adopt a plan that could put an end to the economic recession. Businessmen were thus, influenced by the optimism of the G20 members, but they soon found out that the economy wasn’t going to recover very soon, so they continued to make investments in gold because this market is safer.

They were soon forced to realize that the G20 plan will not lead to the desired outcome, so the yellow metal remained the most secure form of investment. This stability is mirrored by the fact that the gold registered a 6.3% growth in October as soon as Greece, Spain and Italy announced that they are having financial problems.

Despite the recent growth, market analysts are not satisfied with 6.3% because this is the smallest increase rate registered in 2011. The yellow metal made significant progress starting in April when gold shares grew up to 8.6%. The month of July was another proficuous period for the precious metal which grew up to 7.7%. The peak was in August with 13.0% and not in September like analysts were expecting. As a matter of fact the first month of autumn was the least profitable because the yellow metal dropped 11.1%.

The US dollar has registered a partial recovery during the last couple of weeks; therefore, the price of commodities is expected to grow during the next weeks. This is the right moment to purchase gold bullion because the price of the metal will drop 1.3%. Nevertheless, the price will continue to grow because by the end of the year an ounce of gold will equal $1,725.20.

By paying attention to the evolution of the gold market in December 2011, you can determine the perfect moment to invest in the precious metal. You will thus be able to double your profit during the first months of 2012 because the gold market will resume its ascension.

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