Go Finance Reporting in SINGAPORE - The price of gold back to its highest price on record earlier this week. Strengthening the gold price was seconded by worries of global crisis, and the debt crisis of Europe.
As quoted by Reuters on Monday (04/18/2011), gold prices soared to a position of USD1.488, 5 per ounce, but then commodity prices are slowly relaxes to USD1.485, 4 per ounce. Meanwhile, gold prices in the futures market is stagnant at USD1.486, 7 per USD.
"It is not surprising if the gold price soared to its price in the middle of the present situation," said a trader at Investors Australia Darren Heathcote.
On the other hand, oil prices seem to be moving down to USD109 per barrel price increase after scoring for three consecutive days. But the gold price has experienced price increases of up to 20 percent (year to date).
Meanwhile, gold prices also scored its highest price during the last 31 years with parking at the level of USD43, 26 per ounce. (GoFinance)
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