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9/11/12

Gold Prices Down Rp3.000 per Gram

Gold price in Singapore market rose by 0.2 percent.

MAKE MONEY BLOG $ - Gold investors back into the game trying to avoid risk. Anticipation investors as planned meeting U.S. central bank or the Federal Reserve and the decision of the German Constitutional Court relating legality of bailouts.



Quoted from page to Reuters, Tuesday, September 11, 2012, gold prices in the Singapore market rose 0.2 percent to a record level of U.S. $ 1728.40 per ounce. In fact, in the previous session, gold prices had slipped more than 0.6 percent.
In addition to the factors in Germany and the Fed, gold prices also rose after gold producer in the world, China, to drill up to 31.3 tonnes of the precious metal in July 2012. Thus, China's gold production during the last seven months reached 208 tonnes, up 7 percent.
Different conditions would occur in the country. The selling price of gold bullion in the Processing and Refining Business Unit (UBPP) Precious Metals-owned PT Antam Tbk pegged at Rp576 thousand per gram. Meanwhile, the price of gold bullion size of 5 grams and 10 grams respectively released in the price of Rp2, 73 million and Rp 5, 42 million.
To buy back gold, Precious Metals UBPP set a price of Rp516 per gram. Compared to the previous day, the selling price of gold fell around Rp3.000 per gram.
Of the U.S. market, gold prices also fell after investors took profit taking. Plan of the U.S. central bank meeting also undermine gold prices.
As quoted from the pages of The Star, Tuesday, September 11, 2012, the price of gold for December delivery on the New York Mercantile Exchange fell U.S. $ 8.7 to U.S. $ 1,731.80 per ounce.
Kitco's gold index notes, gold is trading at the highest price and the lowest U.S. $ 1,742.30 U.S. $ 1,729.20 per ounce.
"This is a time where everything is starting to show increased worries, where savvy investors slowly began to reduce the risk of investment," said Co-Portfolio Manager of the GMG Defensive Beta Fund Mega, Oliver Pursche. (Art)
source: VIVA.co.id

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