Gold was trading at $1.658 per ounce at the end of last week, a 1.49-percent decrease week-on-week. Although market watchers had expected gold to increase during the week, driven up by news that the German government will move part of its reserves, the price had been falling since the middle of the week. Fundamentally, the precious metal is likely to keep a stable price in the long-term, analysts say, not least because of international developments. US House Republicans voted last week to suspend the federal debt limit through the middle of May. The plan will increase the US government’s borrowing powers and it’s believe that gold prices will likely go up, too.
