In little more than three hours gold rose of 1

Shortly before 4 p.m., exchanged gold for cash in New York climbed yesterday over the $ 1.040 ounces (specifically 1.043,78). A new absolute record. The solid barrier of $ 1.033 against which the yellow metal in March 2008 has encountered (1.032,70 dollars an ounce in a meeting of the 17) is finally broken. At the time, graphic analysts at Credit Switzerland to predict a bright future with first goal to 1,100 dollars an ounce, followed by a second in 1.192 $. This dream will be broken on the condition that the price of the most popular of precious metals file below the 973 dollars an ounce, they continue. If it continues on its current course, the gold will record its ninth year of increase in a row and will mark its longest rally since a century. Its rebound from the low point of the year (802,59 dollars an ounce in the January 15 meeting) is to almost 30.

Nothing spectacular compared to the performance of several other mineral resources. Much more impressive however was the flight yesterday afternoon. In little more than three hours, gold rose of 1.020 to 1.040 dollars an ounce. A the origin of this sudden access of fever, the parity of the dollar, once again. The greenback was placed yesterday under downward pressure. The decision of the Central Bank of Australia, the second country to gold in the world, to raise rates opened the ball. In the aftermath, the British newspaper "the independent" reported the intention of several nations to express the price of black gold in a basket of currencies including the yellow metal in place of the American currency. 0

Agnostics and believers

Despite official denials that followed quickly, purchases of gold multiplied. "The question now is whether the dollar will remain the global reserve currency", says Daniel Stokes in GoldCore. The close relationship reversed between the course of the yellow metal and the parity of the greenback is originally beautiful escapement of gold Tuesday. Demonstrates the level of the price of gold in euros. Below EUR 710 ounces, it is less than 10 at its peak of February (786,30 euros at the end of the meeting of the 20).

So far, the most popular precious metals has never been able far to stow lasting a course superior to the $ 1,000 an ounce. Several times this past month, spun it under the bar. Finally, high and very volatile prices do not facilitate purchases on the physical market by jewellery manufacturers. The demand from this sector of activity is essential because it accounts for about 70 of the total purchases of this product. However, the World Council of gold, the Organization of the sector, believes that demand for Jewellers has melted from 22 in the second quarter. The retention of Jewellers suffice lowering the fever of gold Nothing is less sure. "Agnostics become believers", welcomes Nick Moore, an economist at Royal Bank of Scotland (RBS). The fuel feed to the engine to increase is far from exhausted. The rise of the fears of sustained inflation is also a factor of support. Not what reduce the volatility of the gold prices or to make the safe haven by excellence, but enough so that it enters the basket of hedging instruments.