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MELBOURNE. For the first time in history, the contract price of gold traded above the price level of U.S. $ 1,700 per troy ounce.This came after Standard & Poor's cut its debt rating, causingthe U.S. stock market drop and the movement of the dollar cluck.
This morning, the contract price of gold for December deliverysurged to a record high of 3.1% to U.S. $ 1,702.70 per troyounce on the Comex, New York. At 14:07 am Melbourne time,the same contract at the level of U.S. $ 1,701.90 per troy ounce.Meanwhile, gold prices shot on the spot market 2.2% to U.S. $ 1,700.22 per troy ounce, also a record high in history.
If counted, the surge in gold prices throughout 2011 havereached 20%. Anxiety about the spread of the U.S. debt crisisand global economic slowdown boosted demand for this precious metal.
"There is pessimism or anxiety associated with the economicand currency of the world's major countries. By the time investorswill worry about the currency, they also worried about the stockand others. One place to park their funds are gold," said GavinWendt , director of the Mine Life Pty in Sydney.
Just a reminder, the S & P cut its long-term ratings of U.S. ratingone level from AAA to AA + on Aug. 5, with negative outloook, S& P criticized the U.S. political system failed to reach agreementon reducing the budget deficit.
source: http://investasi.kontan.co.id
please give me comments thanks
This morning, the contract price of gold for December deliverysurged to a record high of 3.1% to U.S. $ 1,702.70 per troyounce on the Comex, New York. At 14:07 am Melbourne time,the same contract at the level of U.S. $ 1,701.90 per troy ounce.Meanwhile, gold prices shot on the spot market 2.2% to U.S. $ 1,700.22 per troy ounce, also a record high in history.
If counted, the surge in gold prices throughout 2011 havereached 20%. Anxiety about the spread of the U.S. debt crisisand global economic slowdown boosted demand for this precious metal.
"There is pessimism or anxiety associated with the economicand currency of the world's major countries. By the time investorswill worry about the currency, they also worried about the stockand others. One place to park their funds are gold," said GavinWendt , director of the Mine Life Pty in Sydney.
Just a reminder, the S & P cut its long-term ratings of U.S. ratingone level from AAA to AA + on Aug. 5, with negative outloook, S& P criticized the U.S. political system failed to reach agreementon reducing the budget deficit.
source: http://investasi.kontan.co.id
please give me comments thanks
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