ETP holdings records, gold prices surged again

SINGAPORE. Gold futures recorded an increase for the second day. Based on data from Bloomberg, this afternoon, the contract price of gold in the spot market rose by 0.2% to U.S. $ 1771.30 per troy ounce. At 12:10 pm Singapore time, the same contract was at U.S. $ 1,769.55 per troy ounce.


If counted, the gold price towards a weekly decline of 0.6% at the end of this week. Memorandum was the biggest decline since August.

Gold price increase occurred after the ownership of the exchange traded products (ETP) Gold surged to a record high. One reason is speculation that the central bank will add more stimulus to support the economy.

"The movement of the gold price is supported by the U.S. quantitative easing program and policy stimulus in other countries. Addition, the U.S. economy is much better than Europe. Thing that would bolster the position of limiting the dollar higher gold prices," said Janu Chan, an economist at St George Bank Ltd. in Sydney.

Note, gold prices jumped 11% in the third quarter. This is the largest quarterly increase since June 2010.
source: http://investasi.kontan.co.id
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