NEW YORK, KOMPAS.com - Contract price of gold soared to hit a record above U.S. $ 1880 per troy ounce in New York. This precious metal touchedU.S. $ 1.881.40. Thus, the price of gold has rallied for seven consecutive weeks.Investors are worried the global economy will slow down so as to make the stock market plummeted participate.
"The low level of confidence in the global economy prompted investors to hunt for gold. The price of gold will continue to rise, unless world leaders to solve problems of debt crisis in Europe and the U.S.," said Tom Pawlicki, an analyst at MF Global Holdings Ltd. told Bloomberg.
The same thing also expressed by Dennis Gartman, an economist. He said, at present, gold has become a world currency. "Especially if the world be convinced that the fiscal and monetary policy makers can not do anything to resolve the fiscal problems of the world today," he explained.
Record, the contract price of gold for December delivery rose 1.7 percent to1852.20 U.S. dollars per troy ounce on the Comex, New York. Throughout this week, gold prices have gone up 6.3 percent, the biggest since February 2009,and 14 percent this month. (Barratut Taqiyyah / Cash)
The same thing also expressed by Dennis Gartman, an economist. He said, at present, gold has become a world currency. "Especially if the world be convinced that the fiscal and monetary policy makers can not do anything to resolve the fiscal problems of the world today," he explained.
Record, the contract price of gold for December delivery rose 1.7 percent to1852.20 U.S. dollars per troy ounce on the Comex, New York. Throughout this week, gold prices have gone up 6.3 percent, the biggest since February 2009,and 14 percent this month. (Barratut Taqiyyah / Cash)
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