Gold Prices Reach USD1.225
Gold Investing August 2nd, 2009
The price of gold back to touch its highest level and perched on the level of USD1.225 sweet, 6 per ounce in trading Thursday. This figure increased compared to previous trading worth USD1.215 per ounce, gold investment demand as the continued strength.
“Gold continues to defy gravity and for good reason of course. The shift out of dollar currency, as happened more quickly than imagined by some investors,” the President said Kevin Kerr, Kerr Trading International, as quoted by The Wall Street Journal, Thursday (3 / 12/2009).
Gold prices rose and reached a new record for the third time when investors protect their investments against currency devaluation and inflation which increases demand for precious metals as alternative investments.
In addition, successful Bullion rose to USD1.350 per ounce next year and could reach the highest position of USD1.500 in two years because of decline in U.S. dollar investments and repeated the request, Newmont Mining Corp..
“Gold continued to increase reaching a new record as investors want to hold their investments to ensure against inflation,” said Chief Tim KEB Futures Co. Trade Hwang Doo Il, in Seoul.
Bullion has risen 39 percent this year as the U.S. dollar fell 8.2 percent against six major exchange group. The Fed keeps interest rates at tingat lows near zero percent since December 2008.
The Fed also said economic activity in the region has improved since last October. Improved consumer spending levels in line with reduced levels of unemployment and the improvement in housing loans
