Go Finance Reporting in SINGAPORE - Gold prices rose due to move as concerns over the threat of debt ratings being downgraded United States (U.S.) and fears of debt in Europe.
As quoted by Reuters on Tuesday (04/19/2011), price of gold in the spot market rose 0.8 percent to USD1.493, 29 per ounce, still below the record high that is achieved in the previous session, USD1.497, 20 . While the gold in the futures market price is little changed to USD1.494, 10.
Earlier, gold prices in the spot market to record highs in a row
because Standard & Poor's threatened to downgrade U.S. credit ratings, in the middle
Europe's concerns about the debt crisis.
The price of silver in the spot market fell 0.4 percent to USD43, 16 per ounce, after reaching its highest level in 31 years for three consecutive sessions, the weakening of these commodities due to the weakening sentiment in the stock market hit the precious metal has industrial applications, such as silver and palladium. Palladium price alone fell 0.7 percent to USD734, 47.
(GoFinance)
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