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SINGAPORE, Make Money Blog$ - After a two-day decline, on Tuesday (14/06/2011) This morning, the contract price of goldsurged again. One reason, China's inflation rate in May increasedmost rapidly since 2008. In addition, Greece's debt crisisworsened as well, so that boosted demand for gold as aninvestment alternative.
Just so you know, this morning, the contract price of gold forcurrent delivery rose 0.4 percent to 1521.45 U.S. dollars per troyounce. Meanwhile, at 11:58 pm Singapore time, the same contractin the position of 1521.10 U.S. dollars. Meanwhile, the contractprice of gold for August delivery rose 0.4 percent to 1522.20 U.S.dollars per troy ounce.
"Gold is again being hunted following the spike in inflation. Evenso, the momentum of rise in gold prices has not been so strong forher to the upper level of 1550 U.S. dollars. This shows that goldprices could still have a correction,"said Park Jong-Beom, a seniortrader Tongyang Futures Co. . (Barratut Taqiyyah / Cash)
source: kompas.com
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