Bullish gold may cross $1250 on investment fever
From Commodity Online:
"Will gold price zoom past the record of $1227 per ounce that the precious metal achieved in December 2009? It looks gold price is surging once again prompted by a number of reasons that include the Greek financial crisis, volatility in dollar and Euro and several central banks’ decision to raise interest rates.
On Monday, gold price started climbing in global markets across several continents from Asia to Europe. Gold prices hit a fresh four-months high in Asian trading on euros rebound as EU offered a bailout package to Greece. Gold for immediate delivery was seen trading at $1165.35 an ounce at 11.30 a.m while U.S. gold futures for June delivery was at $1,166.40 per ounce.
Bullion analysts said that gold price is once again on a boom. Gold’s steady ascent to a record of $1227 per ounce began in October 2009 in the aftermath of India buying 200 tonnes of gold from the International Monetary Fund (IMF). IMF decision to sell gold to India at a high price led to a frenzy in bullion markets around the world, resulting in the precious metal’s historic rally to $1227 per ounce on December 4, 2009."
Read the full article here.
"Will gold price zoom past the record of $1227 per ounce that the precious metal achieved in December 2009? It looks gold price is surging once again prompted by a number of reasons that include the Greek financial crisis, volatility in dollar and Euro and several central banks’ decision to raise interest rates.
On Monday, gold price started climbing in global markets across several continents from Asia to Europe. Gold prices hit a fresh four-months high in Asian trading on euros rebound as EU offered a bailout package to Greece. Gold for immediate delivery was seen trading at $1165.35 an ounce at 11.30 a.m while U.S. gold futures for June delivery was at $1,166.40 per ounce.
Bullion analysts said that gold price is once again on a boom. Gold’s steady ascent to a record of $1227 per ounce began in October 2009 in the aftermath of India buying 200 tonnes of gold from the International Monetary Fund (IMF). IMF decision to sell gold to India at a high price led to a frenzy in bullion markets around the world, resulting in the precious metal’s historic rally to $1227 per ounce on December 4, 2009."
Read the full article here.
Posted by Tom at 4/12/2010 8:29 AM 
Categories: Gold, Investing, Commodities
Tags: gold investing bull market
Categories: Gold, Investing, Commodities
Tags: gold investing bull market
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