Enter your email address:

Thursday, April 28, 2011

Gold : ninth record high in nine sessions

A record high for gold and the decline of the dollar : Gold prices increased 2.4% in first quarter : The sharp decline of the dollar boosted gold's gains

Gold prices continued to break record highs on Thursday, benefiting from the steady decline of the U.S. dollar at its lowest level since July / July 2008, after it became clear that the United States will keep its monetary policy as is.

Gold in the spot market Has reached the highest level ever at U.S. $ 1532.91 per ounce (ounce equals 28.25 grams), which is a ninth record high in nine sessions, before easing slightly to the price of $ 1530.80 an ounce.

These developments have prompted many central banks in Asia to stop buying the U.S. currency down to adjust the rise in the value of domestic currencies, the euro has reached its highest against the dollar since recorded 16 months to up to $ 1.48.

An increased investor confidence in the precious metal in the light of the continued political unrest in the Middle East and North Africa, and rising global inflation due to the increase in the prices of food and fuel, two factors prompted investors to employ their money more and more in gold . The price of gold increased by 360% in the last ten years

Popular Posts