Go Finance Reporting in SINGAPORE - Gold prices rose to record highs on Friday after the dollar fell to its lowest point since late 2009.
Thus making the price of silver touched its highest level over a period of 31 years. Inflationary pressure in China also helped lift the gold price attractiveness.
Quoted by Reuters on Saturday (04/16/2011), price of gold in the spot market was steady at USD1.472, 50 per ounce, after hitting a record high of USD1.479, 01 per ounce.
As for the silver in the spot market price rose as high as USD42, 41 per ounce, the strongest since 1980. This is seconded from a dealer in Singapore who reported buying from speculators.
In addition, the price of gold futures in the United States (U.S.) for June rose as high as USD1.480, 5 per ounce, and it became the highest price.
Known, the growth in China that had burdened only to subside in the first quarter. Meanwhile, inflation soared to a high pressure for 32 months so that the government should do more to rein in prices and keep the economy stable.
(Gofinance)
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