Eurozone problems raise the price of gold
Gold price has reached the record level of $ 1.250 per ounce, after investors chose to buy the precious metal to avoid the risks in the euro area and the instability of international currency markets.
Gold quotations have exceeded the maximum prices set earlier this month, amid deepening themes from the recovery of the eurozone economies, notes Reuters.
Investors were looking for new assets to place their money in and gold were chosen.
U.S. market, gold price increased to 1231, 83 U.S. dollars per ounce during Thursday’s trading. Today, gold was quoted at $ 1248.95 per ounce.
Analysts fear that Greece’s problems might extend to other states, on the list of most vulnerable countries being Portugal, Spain and Ireland.
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Posted by AnnabelleLion on May 15 2010 Filed under Economy. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
