Gold Towering to Highest Level

Gold Towering to Highest Level

Gold prices finally rose to the highest level. In London, for example, the price of this precious metal touched ahead of 1300 U.S. dollars or equivalent to Rp 11.6 million per ounce. "This is the first time at the highest peak price," wrote the mass media like AP and AFP, yesterday.

Fears about the impact of world economic crisis was triggered rising gold price. Not only that, the position of the U.S. dollar weakened against the euro also makes very high-priced gold. Now, the U.S. dollar was down one percent against the euro.

For a moment looking back, the gold price increased five times in the last ten years. In 2000, for example, the price of gold rose from position 258 U.S. dollars per ounce. Rather than any other investment vehicle, gold is considered the most "safe" for capital investment. This makes gold, then, becomes primadonna.

Triggers other gold price increase was a more technical reason. Gold priced using U.S. dollars. Then, any decline in U.S. dollar makes gold cheaper if buyers using other currencies.

A recent report about the World Gold Council gold market, in turn, estimates that demand remains strong from the buyer jewelery in two of the fastest growing markets, India and China. These conditions will make the price of gold remains high.

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