Gold price is a new hope for the bulls

Gold prices are rising steadily

In brief: Gold prices continue to rise. Increasing gold quotations have been due to increased demand for the precious metal.

Gold prices have set a new world record high. Gold prices on the world market has updated the historical record. On June 18 during trading on the Exchange NYMEX price of gold rose by 0,7% to more than 1,258 dollars per ounce. The previous historical maximum price for gold – more than 1250 dollars per ounce – was established on June 8.

Market participants do not exclude that in the near future the cost of the precious metal reached $ 1300 per ounce. The increase in gold prices is associated with the uncertainty of investors in the world’s major currencies – the euro and the dollar, causing investors are eager to send their money to the safest asset – gold. Growth is market demand, in turn, directly affects the price.

Anrey Torbinski
2010-06-19 07:57, Commodities.

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