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| Gold |
LONDON - Gold finally reached the level of USD1.500 per ounce because of the weakening United States dollar (U.S.) against the euro, as well as concerns over inflation that continues to make investors more attractive investment to a safer place.
As reported by AFP, gold on the London Bullion market reach USD1, 505.65 per ounce. Gold was trading at a price range of USD1.503, 6 and continued to rise. Meanwhile, silver prices also traded in the range of USD44.79 per ounce.
This proves the precious metal is still regarded as the safest investment in the political and economic instability such as this.
U.S. dollar exchange rate continued to fall against the euro. Today, America is being wound-related problems in the sector financial deficit. Gold prices continued to rise reaching levels observed USD1.500 per ounce since the beginning of trading this week after Standard & Poor's (S & P) revised the American outlook report from stable to negative.
In addition, gold has also triggered an increase in world oil prices and global inflation which also attacked China, India and several other European countries. Consultant GFMS gold last week predicting the gold price will soar up to USD 1600 in the year, primarily driven fears of inflation.
Gold prices have increased approximately six percent since the beginning of this year. Gold recorded stepping USD1.000 figures since March 2008. "Gold will remain at a high position for the position of the U.S. debt is still high, and fears of inflation are still there," said trade analyst gold Spread Co. Ian O'Sullivan.
As reported by AFP, gold on the London Bullion market reach USD1, 505.65 per ounce. Gold was trading at a price range of USD1.503, 6 and continued to rise. Meanwhile, silver prices also traded in the range of USD44.79 per ounce.
This proves the precious metal is still regarded as the safest investment in the political and economic instability such as this.
U.S. dollar exchange rate continued to fall against the euro. Today, America is being wound-related problems in the sector financial deficit. Gold prices continued to rise reaching levels observed USD1.500 per ounce since the beginning of trading this week after Standard & Poor's (S & P) revised the American outlook report from stable to negative.
In addition, gold has also triggered an increase in world oil prices and global inflation which also attacked China, India and several other European countries. Consultant GFMS gold last week predicting the gold price will soar up to USD 1600 in the year, primarily driven fears of inflation.
Gold prices have increased approximately six percent since the beginning of this year. Gold recorded stepping USD1.000 figures since March 2008. "Gold will remain at a high position for the position of the U.S. debt is still high, and fears of inflation are still there," said trade analyst gold Spread Co. Ian O'Sullivan.
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