By Mahmoud Gamal
Mubasher: Gold price saw a slide of 0.5% to $1,255 an ounce at 0640 GMT on Wednesday.
This price fall is synchronized with expectations that European Central Bank may ease monetary policy this week and push interest rate down, analysts said.
However, the current downfall is deemed a natural process of profit taking that will never crack gold’s role as investors’ “safe haven”, namely amid the present withering economic situation, Raed Khedr, financial analyst told Mubasher.
Technically, gold price is moving up untill the end of the first quarter of the year, targeting the level of 1300 and then 1400, he added.
Translated by Ahmed El-Sayed Ali
