Go Finance Reporting in SINGAPORE - The price of gold had gained a new record at the level of USD1.579 per ounce after the news of the death of al-Qaida leader Osama bin Laden.
As quoted by Reuters on Tuesday (05/03/2011), price of gold in the spot market parking at USD1.544, 86 per ounce. Earlier, in trading Monday 92/5/2011), commodity prices are moving volatile safe haven in USD1.540, 39 per ounce and its highest level in USD1.579, 75 per ounce.
Meanwhile, gold prices in the futures market fell 0.8 percent to USD1.545, 10, up from an intraday low at USD1.516, 20.
Gold prices look up and down on Monday after news of the death of Osama bin Laden in the US-led action. Decline in commodity market risk premium for short term only. Where gold and oil are feared to be a source of funding al-Qaeda.
Meanwhile, silver prices tumbled 8.5 percent on Monday, is the largest daily decline since December 2008. But, this morning the price of silver edged up 0.4 percent to USD44, 07. (GoFinance)
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