The gold price reached 4 months high moveswithin striking distance of $ 1000 again
Gold is to regain its attractiveness to investors.
The precious metal rose to $ 13.10 close to $ 973.70 an ounce Monday on the New York Mercantile Exchange, a four-month high that the settlement puts gold to find the distance of $ 1000 mark which was raped in March. Gold has gained 11 percent _ _ or almost $ 100 in the last month, driven by a weakening U.S. dollar and nervousness about the U.S. economy. More recently, concerns that the government could have difficulty to shore up the financial mortgage Freddie Mac and Fannie Mae have boosted the allure of gold as aa course, other investments during periods of economic turmoil and rising of inflation. "Gold's safe haven attributes were evident in demand," Jon Nadler, analyst at Kitco Bullion Dealers Montreal, wrote in a note Monday. If gold does hit $ 1000 gain, it is still well below its inflation-adjusted high of 1980. Prices are expected to reach about $ 2200 an ounce to surpass that mark. Gold's rally boosted other precious metals Monday. September silver added 43 cents to settle at $ 19.25 an ounce on the Nymex, while September copper gained 1.2 cents to settle at $ 3,752 a pound. |
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