Price of Gold Per Ounce 2011 above $1,600
source: http://www.singapore-trends.com/price-of-gold-per-ounce-2011-above-1600/
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http://www.singapore-trends.com/price-of-gold-per-ounce-2011-above-1600/
Gold prices are tending upwards due to instability of the Euro zone and an impending US default. July 18th saw them soaring above $1,600 an ounce. Statements of the US Federal Reserve System head that gold is not money seem all the more paradoxical in this context.The last month has become the richest in terms of gold-related issues. It is not only about the record high levels – prices are up for 11 days already, which is the longest streak of gains since July 1980. Furthermore, they have been constantly growing over the entire last decade which is also a record that was last seen in 1920. One of the main reasons behind such a price flare-up is a feverish demand for this precious metal. And it is not going to weaken in the nearest future, BKS Express company analyst Maxim Lobada said in an interview with the Voice of Russia:
Price of Gold Per Ounce 2011 above 1600 Price of Gold Per Ounce 2011 above $1,600
Price of Gold Per Ounce 2011 above $1,600
“I think gold prices will surely go up. The reason is simple: after all, gold is an unparalleled asset amid the world’s growing instability. If something terrible happens, such as a US debt default, this may “distort” the market and cause investors to resort first to the dollar and then to gold. In other words, fluctuations are going to be strong. Monetary authorities neither in Europe nor in the US can distinctly explain their stance on the situation’s further development. People simply don’t know how the financial system will operate in the future,” Maxim Lobada stressed.
http://www.singapore-trends.com/price-of-gold-per-ounce-2011-above-1600/
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