historical gold price

SINGAPORE. The contract price of gold in New York and in London re-print a new record. Thus, already five days in a row a new historical record gold prices. Gold prices traded above U.S. $ 1,500 level in line with the weakening dollar and the fear of debt in Europe. As a result, demand for gold as an investment alternative to the higher.

Last night, the contract price of gold on the Comex division, NYMEX in New York for delivery in June rose by U.S. $ 10.70 or 0.7% to U.S. $ 1,509.60 per troy ounce. At 08:00 New York time, the same contract in the position of U.S. $ 1,507.60 per troy ounce.

While the contract price of gold on the London Metal Exchange for quick delivery rose 0.3% to U.S. $ 1,506.85 per troy ounce after recording the highest price in history at the level of U.S. $ 1,509.

For your information only, the dollar weakened to its lowest level since August 2008 against six major world currencies. "Elements of the key current gold price movements is the dollar. In addition, fear of debt conditions in the U.S. and Europe as well as inflation makes investors return in droves holding gold," explained Edel Tully, an analyst at UBS AG in London.