Go Finance Report - Gold prices rising again due to market concerns over the possibility of downgrading the Euro Zone countries due to debt crisis.
As quoted by Reuters on Wednesday (12/22/2010), price of gold in the spot market increased by $ 2, 14 per ounce to USD1.387, 44. However, this price is still below its highest price USD1.430 printed at the beginning of this month.
While in the futures market, gold prices weakened USD1, 1 to USD1.387, 7 per ounce. Previously, the International Monetary Fund (International Monetary Fund / IMF) has announced the completion of the sale of gold reserves that began last year.
The International Monetary Fund (International Monetary Fund / IMF) announced that it has completed the sale of gold reserves totaling 403.3 tons. Sale of IMF gold has been carried out since the year 2009.
Until late October, the IMF has sold as much as 90 percent of the total, amounting to 403.3 tons of gold. It is also hoisted the rising price of gold. Furthermore, the IMF also announced at that time were trying to sell the remaining gold reserves as much as 33 tons more.
The euro also continued decline on Wednesday as news that mentions the impact of a number of countries ranked users are eroding confidence in the euro single currency, dragged him to record lows on the Swiss franc and Australian dollar. (GoFinance)
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