(MENAFN - Arab Times) Wait city april 13 (kuna): the week gold trades ended with the price at 1319 per ounce 20 higher as compared to the opening rate according to a report by sabayik al-kuwait a precious metals trading company. bullish trend of the gold prices came contrary to analysts' forecast particularly after the precious yellow metal broke the psychological barrier of 1300 per ounce amid contradictory reports about forthcoming measures by the us federal reserves as to shoring up the economy.
current conditions in the euro came in favor of the gold re-luring liquidity with investors' desire to heighten earnings after losing confidence in the international markets. the report forecast continuous bullish trend by the gold in the near future due to bearish trend of the us dollar vis a vis the other major hard currencies thus it may settle at 1350 per ounce next week. as to silver the rate settled at 20.2 per ounce. other precious metals followed the gold suit keeping rates upwards