Jul 30, 2011

Not Stop Translucent Gold New Record

The price of gold back into the new record in the history of trade on Friday. The investors stormed back to secure investment instruments because the U.S. back a debt settlement impasse.

The surge in gold prices was helped by the weakening of the dollar as investors worried about the debt settlement in the U.S. and Europe. While politicians in the U.S. have not found an agreement to settle the government debt that will mature this August 2.

"The value of the dollar more and the less attractive because of fiscal and monetary conditions are not supportive," said analyst Kathy Lien was quoted as saying by Reuters on Saturday (07/30/2011).

Gold prices continued to surge after the U.S. government said the economy is quite shaken in the first half of 2011. Some investors are also worried about the risk of impending economic recession in the U.S.. This could make the price of gold continues to rise.

But there are also some investors who worried the U.S. economy will experience a deep recession and will push the prices to be down, including gold which is estimated to be depressed.

In trading Friday, spot gold prices touching a record high in history of U.S. $ 1632.3 per ounce. Up 0.5% from the previous position of U.S. $ 1,623.99 an ounce.

While the trading price of gold futures for December delivery also rose $ 15 to U.S. $ 1631.2 per ounce.

Besides gold, silver prices also rose 0.8% form the U.S. $ 39.97 per ounce, but can not return to the record high of U.S. $ 41.42 per ounce this week.

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