NEW YORK - new record gold prices back ditoreh. Anxiety will boost demand for the debt crisis of gold as an investment alternative.
In trading on the New York Mercantile Exchange on Tuesday (04/05/2011) local time, the contract price of gold for June delivery rose 19.50 dollars or 1.4 percent, to 1452.50 U.S. dollars per troy ounce. This is the highest closing price in history. While the contract price of gold for current delivery rose 1.6 percent to a record high in the position of 1457.45 U.S. dollars.
Just so you know, the level of insurance financing for Portugal's debt soared to record highs throughout history. In addition, the conflict in Libya and Japan's nuclear crisis is also some sentiment that increases demand for gold. If calculated, the price of gold has jumped to 28 percent as much in the last year.
"There are shocks in the Middle East, uncertainty in Japan and there is a possibility of default (default) European debt. The high demand for gold and silver performed as hedges of these factors before," said Adam Klopfenstein, senior strategist at Lind-Waldock
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