The value of gold sets the new record
The futures have reached the level of $1105,40 per ounce
In brief: The gold value sets the new record getting over the level of $1105 per ounce. The reason is the depreciation of the US dollar and the cornering of precious metal by Central Bank of India.The gold value sets the new record at the commodity exchange of Comex. Its futures have grown up to $1105,40 per ounce. Thus the previous record has been beaten to $2,5. To the experts’ opinion it is a result of depreciation of the US dollar that could provoke an increase procurement of precious metals.
The reason is the large cornering of gold by Central Bank of India that has bought up 200 tons of the precious metal. Thus it has seriously influenced the demand increasing it. It is depreciation of the US dollar that makes the gold value grow up.
The value of gold has grown up to more than 5% during the last month. The value of gold with urgent delivery has grown up to 1% and on Monday has amounted $1105,11 per ounce according to the information of Bloomberg.
Ukranian Globalist2009-11-09 10:54, Commodities.
News on: Bloomberg, Central Bank of India, currency, exchange, precious metal, USD