Debt crises heave gold price to record high

 

The worsening of the debt problems in the U.S. and Europe has driven the price of gold for the first time in the economic history of the brand of $ 1,500 . "Gold is still the first choice as a safe harbor investment," said a dealer in Singapore. An ounce of the precious metal for delivery in June rose in price on Tuesday temporarily by about half a percent to $ 1,500.50.

Currently, give it plenty of bad news, the metal made popular in the economically uncertain times, dealers said. The prize for the best for thousands of years investment has increased over the past two weeks to around 70 dollars.

Apart from the threat of the credit rating agency S & P on Monday, the U.S., the rating avoid top rating of "AAA", the debate drove to a rescheduling of Greece, a cheaper dollar and expensive oil price of gold. In the score suggested and the electoral success of the Euro- Skeptics in Finland, by a blockade of the EU could threaten rescue package for Portugal.

Gold has enjoyed in the previous decade, a brilliant comeback. After a twenty-year losing streak since 2000, it is up to the price almost without a break. Compared to the millennium, the value of a troy ounce has increased more than fivefold: At that time, just paid $ 290.

Just a few weeks it seemed as if the upward trend came to a stop. Experts had said that the prospect of the first time in a long while rising interest rates in Europe and the USA for many investors to spoil the joy of classical conditioning Crisis Gold - despite the nuclear disaster in Fukushima and the unrest in the Middle East and North Africa.

With higher interest rates gold loses its attraction as an investment because it pays no interest, but only offers the opportunity for capital appreciation. The latest financial developments in Europe and the U.S. investors were initially but now back in the "safe harbor" established to make gold.

 

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