There is a certain correlation between dollar and gold. Whenever dollar goes up, gold prices go down and whenever it is down, gold goes up. So this is no coincidence that the gold strengthened a bit on a visibly week dollar. Earlier there was the biggest three day fall in the gold prices during the last three years. After going down constantly for four days-in one single day losing more than $100- the gold price per ounce went up by as much as 1.9 percent today. At the time of filing this report the gold per ounce was being sold at $1,651.25. But no one is sure if it will go up or down in coming days. The same way the stock market is behaving. It is seesaw sort of thing happening in the world market. Meanwhile the stock markets across the world are rallying due to positive signals from the European markets. Eurozone leaders have promised that they wouldn’t allow the Greece government to default by taking necessary steps following criticism by Chinese and US governments. An analyst was reported by Bloomberg as saying, “When the market gets very panicky, they sell everything off and they go for cash and Treasuries because that’s really the largest market where you can park your money…It’s a great opportunity to accumulate more gold and silver.” Meanwhile silver prices also went up by as much as 3.4 percent per ounce. The silver had registered unprecedented fall going down as much as 22.5 percent in just three days.

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