Forecasts of world GDP growth improved, yet head of the International Monetary Fund Christine Lagarde is convinced that the global economy is still troubled, prospects are vague and the overall situation is shaky. The reason for that is the sovereign debt crisis of the Eurozone.
Shortly after this statement, investors rushed to purchase reliable assets. Therefore, the price of Gold moved up to the mark of 1652 US dollars per troy ounce.
The upward movement was propped up by US statistics on labour and housing markets.
In March the indicator for existing home sales abruptly plunged by 2.6%, whereas analysts had expected growth of 0.7%.
The number of initial unemployment claims fell short of the forecasts. Last week the index rose to 386K instead of predicted 370K.