The Gold market witnessed some weakness last week as many investors booked their profits following Diwali. Many investors are closely monitoring the G20 meetings which started in Seoul, Korea on Thursday, and tracking the effects of the immense stimulus package that was announced by the US Federal Reserve. As the United States government is struggling to pull out of the recession, they are attempting to build pressure upon China to deregulate their currency and let it appreciate against the American dollar—however the Chinese are reluctant to do so because an appreciation would take out some of the profits from their exports. All of these discussed factors are expected to further raise the price of gold predict analysts—because the precious metal is the perfect hedge against inflation and an uncertain currency. The price of gold is expected to rise during the coming months as we witness the fallout from the G20 meetings.
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