Incredible yellow metal hit highest record of $1258.38
The gold fix on the London Bullion Market hit a record high, due to a weakened dollar and low economic reports of United States this year.
Believed that gold price will keep rising next week, to reach new high at 1300 US dollar per ounce, due to high demand for this scarce metal, after a drop in US currency.”Against a backdrop of sovereign risk in Europe, the release of weak employment numbers in the US on Thursday brought the dollar down from its recent highs rekindling fears of a double dip recession and gold duly performed in its role as a dollar hedge.” said Marcus Grubb, Managing Director of Investment at the World Gold Council