Go Finance Reporting in SINGAPORE - Gold prices bounce back and touched its highest level since 4 May, due to concerns over bailout uncertainty Greece.
As quoted by Reuters on Tuesday (05/31/2011), price of gold rose to the position of USD1.539, 5 per ounce on Monday (05/30/2011), this represents the strongest level since May 4. While on Tuesday (05/31/2011) morning, the price of gold is on USD1.538, 34.
The price of this precious metal has declined by 1.6 percent so far compared to its highest level in history USD1.575 earlier this month.
While the price of silver rose 19 cents to $ 38, 24 per ounce, but this metal prices dropped approximately 20 percent in May, this is the biggest drop since 2008. Previous record gold price USD49, 51 per ounce in April.
The European Union is preparing a second draft of the bailout package to Greece. The loan is likely to be disbursed in the next month with the aim to prevent debt default the Euro Zone. (GoFinance)
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