-
One factor holding the metal back, he said, are some of the recent losses in other markets, such as equities and other commodities.
FORBES: Gold Strong In Euro Terms But Faces Offsetting Factors Against Dollar
-
However, the stronger dollar has been less of a bearish factor for gold recently, as the yellow metal has seen better safe-haven demand surface as the new year is under way.
FORBES: Comex Gold Ends Modestly Higher Amid Weaker U.S. Dollar Index, Technical Buying
-
The market place is also more stable so far this week, which is also a bullish factor for the gold market as the yellow metal is acting like a risk asset recently.
FORBES: Comex Gold Gets Boost From Coordinated Central Bank Move to Boost Liquidity
-
That could cost 600 jobs, and the company says the new carbon floor price is a factor as it uses large amounts of energy to produce the metal.
BBC: Industry warns carbon tax could cause huge job losses
-
Thus, it will continue to be a major underlying bullish factor for the gold market that could support the precious yellow metal for weeks and months to come, or even longer.
FORBES: Comex Gold Ends Weaker On Firmer U.S. Dollar Index, Lower U.S. Stocks
-
The EU debt crisis is still a major underlying bullish factor for gold and is prompting safe-haven demand for the metal.
FORBES: Comex Gold Higher on Bargain Hunting, Weaker U.S. Dollar Index
-
While the stronger greenback recently has been a bearish factor for the gold market, it can be argued the yellow metal has held up surprisingly well given the persistent strength of the dollar.
FORBES: A.M. Kitco Metals Roundup: Gold Lower as Stronger Greenback Squelches Bulls