Gold Prices Rise Again ?

SEATTLE, Make Money Blog$ - Contract price of gold soared to its highest level in a month. The increase in the consumer price indexexceeded the forecast increase investor demand for gold as aninflation hedge.


"The price of gold seems to still have a rising trend because of theworsening inflation outlook," said James Turk, founder ofGoldMoney.com.

At 13:42 pm New York time, the contract price of gold for Aprildelivery rose 10 U.S. dollars or 0.7 percent to 1375 U.S. dollarsper troy ounce on the Comex, New York. Previously, the samecontract had touched the level of 1385.40 U.S. dollars, the highestsince Jan. 13. Record gold prices hit a record high on December 7, at the level of 1432.50 U.S. dollars per troy ounce.

Record, according to data released by the U.S. Labor Department,yesterday, the U.S. consumer price index rose 0.4 percent for twoconsecutive months. Index increase was triggered by a spike infood prices to the highest level in two years.

While the 79 economists surveyed by Bloomberg forecast an increase of 0.3 percent in the U.S. consumer price index. (BarratutTaqiyyah / Cash)
source: kompas.com

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