Vang turned down this week session

World gold prices declined in early trading this week as stocks rose sharply reduce the need for safe investments in precious metals.

Gia vang opened this week at area high price 1830 usd / oz, but then quickly adjust to slip during the Asian session and continues to the NY session. Gold price had reduced to its lowest at under 1775 usd / oz. However, the country has recovered slightly and closed again near the threshold 1800 usd / oz.

The key stock indices in Wall Street yesterday more than 2% by about a merger between two large Greek banks, increasing the confidence of investors. The rebound in consumer spending by Americans in July also makes people reduce anxiety about a new recession in the world economic leader.

Gold for immediate delivery dropped more than 2% to 1.789 usd / oz, down 41 usd / oz compared to the closing weekend. Trensan Comex, gold for December delivery closed at 1,791.6 usd / oz.

The volume traded on the term relatively weak London market close by and investors afraid Hurricane Irene. The dollar strengthened against yen and Swiss franc after personal spending data, and adverse impact on gold prices.

Saxo Bank, senior managers of Ole Hansen observed, probably sell-off activities and free-fall last week has prompted the market that prices will never move in a straight line. However, he says, gold will not stop the rally here, which is adjusted to get the power to go forward.

Market observers said that, despite some good news, but the U.S. economy is still difficult, the meeting will prompt the Fed to seriously make a new economic stimulus package. Gold future growth prospects for many hongiam.