Indonesia Authorized Money Changer

Weakening dollar makes gold reached its highest price

April 20th, 2011 - Tags: , , , , , , , , , , ,
Posted in Umum

RMCGold reaches new record of above 1,500 dollars per troy ounce, this is due to fear of U.S. debt that makes the dollar worse off so that market participants find the safest investment for now. Global investors prefer to use gold and silver as alternative currency than keep the dollarĀ  or other currencies as it is considered vulnerable to fall.

Step dollar will be affected by the issue of U.S. debt rating lowered by Standard & Poor’s to be negative and even could lose top ranking that is triple-A (AAA). The issue is what pushed the weakening dollar and boost gold prices reached a new price.

Decrease in the dollar also led to rising crude oil prices. After several days of lower oil prices now beginning to rebound (back up) means the demand for oil in the market. Coupled with the volatile political climate in Nigeria which raises new concerns would halt oil supplies, such as in Libya, but Libya, Nigeria is considered as the most suitable replacement. (Winnie)