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Monday, July 18, 2011

Gold Prices in 2011, Highest In History

The increase of gold prices of present is the highest in history


LONDON - Gold prices reached  to USD 1600 per troy ounce. This caused by the anxiety to the crisis that occurred in Europe and the U.S. which increasing the gold demand as a hedge. Other causes were due to the gold prices in the euro and the pound that also rose to its highest level in history.

"The situation in Europe and problem of the U.S. debt limit, is still be the main focus of the investors," said Ben Westmore, minerals and energy economist at National Australia Bank Ltd.

In noon of July 18, 2011, the contract of the gold prices for quick delivery rose USD 6.55 or 0.4 percent, to USD 1600.10 per troy ounce. However, on 08:26 London time, the price of gold back fell to USD 1596.88 per troy ounce.