Mississauga, ON -- (SBWIRE) -- 03/16/2015 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Golden Reign Reports Key Information From PEA for San Albino Gold Deposit."
Companies mentioned in this article include Golden Reign Resources Ltd. (TSX-Venture:GRR).
Gold made a promising start to the year, with prices crossing $1,300 an ounce in January. However, since February, gold prices have seen a sharp pullback. Prices are well below $1,200 an ounce level now.
Gold prices have been driven lower by a stronger dollar. The U.S. dollar has been strengthening since the start of this year amid speculation that the Federal Reserve will start hiking rates soon. Indeed, overall stronger economic data in the U.S. has further fueled the speculation.
Globally, there is also deflationary pressure. Gold has been traditionally seen as an inflation-hedge. However, the precious metal's appeal has been dented by the threat of deflation in Europe. Even in the U.S. and China, inflation levels are well below the targeted rate due to lower oil prices.
In addition to these factors, weak demand for physical gold in China and India is also weighing on prices. In China, anti-graft measures have hurt the sales of luxury goods and jewelry. In India, import duties on gold have kept demand in check despite lower prices.
The full version of this article can be found at:
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