Rev. Kishoka
JF-Expert Member
- Mar 7, 2006
- 4,526
- 1,533
Just imagine if we were receiving 30% of price of gold an ounce in comparison to 3%!
Yesterday, Gold reached high place by selling itself at price of $1420 an ounce. Sasa Mchungaji akifanya mahesabu ya haraka ya kupembua 30% au 3% jibu ni: je kipi ni bora kupata $426.00 au $42.60?
BBC News - Gold price rises on inflation and Europe worries
Yesterday, Gold reached high place by selling itself at price of $1420 an ounce. Sasa Mchungaji akifanya mahesabu ya haraka ya kupembua 30% au 3% jibu ni: je kipi ni bora kupata $426.00 au $42.60?
BBC News - Gold price rises on inflation and Europe worries
Gold price rises on inflation and Europe worries
Investors are stocking up on gold
The price of gold has hit another record high as investors worry about inflation and Europe's budget troubles.
It hit $1,421 an ounce at 1030 GMT.
The price has now risen by 7% since the US central bank announced last week its plan to inject $600bn (£372bn) into the American economy.
Investors worry this will lead to higher inflation, and are also concerned about the state of the Irish Republic's economy as it tries to cut its budget deficit.
Gold is traditionally seen as a haven for investors at times of economic stress.
Printing presses
Some economists say higher inflation could be on the way after the US Federal Reserve's decision to effectively print huge sums of money to try to stimulate the economy.
Continue reading the main story Start Quote
The gold market is swimming in uncharted watersEnd Quote Ong Yi Ling Analyst
The move has also been criticised by other countries, which fear large inflows of money into their stock and property markets, which can be destabilising.
As well as this, there are renewed questions about the stability of one of Europe's economies.
The Irish Republic is struggling to convince the bond markets that it does not need financial help from the European Union or the International Monetary Fund.
Continue reading the main story
FOREX GOLD INDEX(PM FIX) $/OZ
Last Updated at 08 Nov 2010, 11:20 ETpricechange%1388.50 - -7.00
- -0.50
More data on this commodity
Dublin will soon unveil its new budget as it tries to cut its deficit from a huge 32%, but there is mounting concern it may not be approved by the Irish parliament, the Dail.
The price of gold has risen by 29% this year.
"With record highs set in quick succession, the gold market is swimming in uncharted waters," said Ong Yi Ling of Phillip Futures in Singapore.
"The asset purchases of the US and debt problems in the eurozone provide a compelling backdrop for gold prices to continue appreciating on a longer term basis."
Meanwhile, the price of silver has risen to $28 an ounce, its highest level since March 1980.