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Jakarta - The price of gold back up after being mired deep enough. Gold prices rose to record nearly 2% so it penetrates more psychological level of U.S. $ 1,700 per ounce.
In trading Monday (11.28.2011), the price of gold in the spot market rose to 1.8% to U.S. $ 1,709.44 per ounce. This is the largest gold price increase in 3 weeks. The price of gold futures also recorded rises to the level of U.S. $ 25.10 U.S. $ 1710.80 per ounce.
Gold prices surged thanks to the expectations of the European crisis would be handled. The increase coincided with a surge in gold prices in the stock market after the effort that involved France and Germany for more stringent budgetary control in member countries of the European zone.
Gold is moving very volatile in the last 7 sessions yesterday managed to rise quite significantly coincided with a surge on Wall Street amid surging crude oil prices and commodities, and the weakening U.S. dollar.
Still, some analysts say, gold is still very vulnerable to a sell-except could take longer 'nickname' safe haven amid economic uncertainty. Poor technical outlook can also limit the increase in gold prices.
"The rally in gold prices today have experienced short covering. We have a process in Europe that will not end soon," said Axel Merk, portfolio manager at Merk Funds, as quoted by Reuters on Tuesday (29/11/2011).
"I think that gold will menembalikan position as a refuge from inflation and cover the face of uncertainty in the world," he added.
In addition to the price of gold, silver prices also recorded rose 3.3% to U.S. $ 32.04 per ounce. Similarly, the price of platinum rose 0.8% to U.S. $ 1,536.99 and palladium rose 2% to U.S. $ 573.75 per ounce.
source: detik.com
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In trading Monday (11.28.2011), the price of gold in the spot market rose to 1.8% to U.S. $ 1,709.44 per ounce. This is the largest gold price increase in 3 weeks. The price of gold futures also recorded rises to the level of U.S. $ 25.10 U.S. $ 1710.80 per ounce.
Gold prices surged thanks to the expectations of the European crisis would be handled. The increase coincided with a surge in gold prices in the stock market after the effort that involved France and Germany for more stringent budgetary control in member countries of the European zone.
Gold is moving very volatile in the last 7 sessions yesterday managed to rise quite significantly coincided with a surge on Wall Street amid surging crude oil prices and commodities, and the weakening U.S. dollar.
Still, some analysts say, gold is still very vulnerable to a sell-except could take longer 'nickname' safe haven amid economic uncertainty. Poor technical outlook can also limit the increase in gold prices.
"The rally in gold prices today have experienced short covering. We have a process in Europe that will not end soon," said Axel Merk, portfolio manager at Merk Funds, as quoted by Reuters on Tuesday (29/11/2011).
"I think that gold will menembalikan position as a refuge from inflation and cover the face of uncertainty in the world," he added.
In addition to the price of gold, silver prices also recorded rose 3.3% to U.S. $ 32.04 per ounce. Similarly, the price of platinum rose 0.8% to U.S. $ 1,536.99 and palladium rose 2% to U.S. $ 573.75 per ounce.
source: detik.com
please give me comments thanks
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