Go Finance Reporting in SINGAPORE - Gold prices fell back in line with the falling value of the euro over the United States dollar (U.S.) during the last five months. While the price of silver print a new price record because of the threat of inflation.
As quoted by Reuters on Tuesday (04/05/2011), the gold price stood at USD1.4386, 10 ounce, down 45 cents. While the price of silver rose 26 cents to $ 38, 72 per ounce. Gold futures for June delivery market was also up $ 4, 5 per ounce in the price of USD1.437, 5 per ounce.
Market sentiment in Singapore showed the reaction of market participants aware of the extreme volatility of the price of silver. While other commodity prices rose in mid-March, the price of silver fell nearly five percent in one day while gold prices fell only two percent.
Value of the euro continued to weaken during the last five months against the dollar. While against the yen, the euro weakened during the last 11 months. This is due to expectations of rising interest rates. (GoFinance)
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