Indonesia Authorized Money Changer

Weakening Dollar Increased The price Of Gold

March 9th, 2011 - Tags: , , , , , , , , , , , , ,
Posted in Umum

RMC – Concern is what makes the investors trying to secure the assets and see that gold is the safest investments result in gold prices continue to soar in line with Libya that do not conflict reda.Menurut Peter Fertig, boss Commodity Quantitative Research “for the situation in the Middle East and North Africa still volatile, oil prices will continue to rise, it is boosting gold prices. ”

Although Saudi Arabia has agreed to maintain the stability of oil supplies, but many still worry, especially if the same conflict  will spread to Saudi Arabia, although some economists say is unlikely but still have to watch out because it was a demonstration in Bahrain, while Bahrain has close ties with Saudi Arabia.

Besides, some European refineries are also concerned about whether Saudi Arabia could send oil like those of Libya. Please note that Libya’s oil supply 2% of the world in the form of low-sulfur crude oil (light), making it easier for the refinery.

Concern is what makes the investors trying to secure the assets and see that gold is the safest investments result in gold prices continue to soar in line with Libya that do not conflict reda.Menurut Peter Fertig, boss Commodity Quantitative Research “for the situation in the Middle East and North Africa still volatile, oil prices will continue to rise, it is boosting gold prices. ”

Gold for April delivery contract on the New York market  now in the level of USD 1444.70 per troy ounce (1 troy ounce is equivalent to 31.1 grams). It goes through a record high price of USD 1441 per troy ounce which occurred on 2 March 2011.

Gold prices are increasing is also influenced by the weakening dollar due to the instability in the Middle East was causing European stock markets slumped. The weakened dollar is causing the rupiah slowly moves up and the predicted in the range of Rp8.870-Rp8.800. This has led to positive precedents so that the rate of inflation can be suppressed for a while.

According to the Governor of the Bank Indonesia Darmin Nasution, “the economic imbalances that occur in developed countries cause capital inflow is still flowing to developing countries including Indonesia, so that the central bank would not peg the rupiah at a certain range, because he thinks it’s fitting the range of dollars for exporters and importers“. (winnie)