Go Finance Reporting in SINGAPORE - After falling for three consecutive days, gold prices appear stable. Meanwhile, silver prices go back down even one percent.
As reported by Reuters on Thursday (05/04/2011), price of gold in the spot market moves to strengthen thin to USD1.516, 29 per ounce. Meanwhile, gold prices on COMEX futures market edged up $ 1, 30 to USD1.516, 60.
Mexico to increase gold reserves in the first quarter of this year. The country is buying more than gold bullion worth more than $ 4 billion in gold bars due to the weakening U.S. dollar value. Where the U.S. dollar currently located at its lowest level for two and a half years.
The price of silver in COMEX silver futures market fell 1.2 percent to its lowest level in a month at $ 38, 91. And silver prices in the spot market fell by one percent to $ 38, 92.
Drop in the price of COMEX silver is due to raise the margin for a transaction of this silver. CME Group set a margin increase in a row at the silver on the COMEX, margins also rose 84 percent in just eight days. (GoFinance)
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