Go Finance Reporting in SINGAPORE - The price of gold on the trade is going strong economic data following a slump in the United States (U.S.), namely unemployment data and manufacturing data that is below market expectations.
As quoted by Reuters on Thursday (06/02/2011), U.S. economic conditions that showed reduction in the number of workers in May and a decrease in manufacturing output since 2009 is still a sentiment that makes investors before they hit the stock market is risky.
Economic prospects are still not sure it makes investors take a safe step by selecting the gold. In SPDR Gold Trust, the volume of gold transactions, up 2.12 tons to 1212.86 tons.
Step Moody's cuts credit rating of Greece is also a concern in itself, before investors had optimistic that Greece will accept the bailout funds and restructure them.
The price of gold this time edged up 0.1 percent, to USD1.541, 89 per ounce, after the previous session strengthened significantly. The price of silver itself was observed to rise 0.7 percent in the USD37, 06 after a slip of more than four percent on the previous trading session. U.S. Silver itself is also not promising decline 1.6 percent to USD37, 08. (GoFinance)
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