20.07.2015 - Gold has fallen to $ 1,100 per troy ounce
The price of gold showed a sharp drop against the background of strong growth in sales of metal on the market after the publication of statistics on the reserves of the People's Bank of China, which were much lower than analysts' expectations. It is worth noting that the last time the information on reserves of gold of the central bank of China was published in April 2009 and then the figure was 1054 tons. Analysts estimated the current level of reserves of about 3000 tons. On Friday it became known that the volume of reserves is 1658 tons. It is worth noting that the quotes have reached an important level of $ 1100 per troy ounce, and we expect the resumption of purchases around this level and expect the resumption of growth in the medium term.