Go Finance Reporting in SINGAPORE - The price of gold moves higher gains the highest price in one day in three weeks. This happens due to the falling U.S. dollar exchange rate and the progress of Greece's debt crisis.
As quoted by Reuters on Monday (06/20/2011), the price of gold rose $ 1, 40 to USD1.539, 80 per ounce. Earlier, on Friday last week, gold also rose to USD1.541. However, gold prices are still below the highest level at approximately USD1.575 in early May.
While silver prices stabilized at $ 36, 00 an ounce, below the record highs USD49, 51 per ounce in April.
Finance ministers postpone decision to extend the European zone further assistance of 120 billion euros, or $ 17 billion in emergency loans to Greece. Because the Greek government should first do the saving.
Greek parties say they need the loan to avoid default to pay the debt in mid-July. The ministers affirmed that the disbursement of the loan will depend on the law of the Greek parliament on the issue of fiscal reform and the sale of state assets.
In addition to formal loans, the new bailout will include the rollover will also voluntarily by private investors on their holdings in Greek government securities. But in a statement, it does not say how large the bailout. (GoFinance)
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