Indonesia Authorized Money Changer

Dollar Down to Make Gold Reached Highest Price

April 29th, 2011 - Tags: , , , , , , , , , , , , , , , , ,
Posted in Umum

RMC – In two consecutive days of gold hit a new record, to know the price of gold for the Comex division of New York for June delivery was at a price of 1531.20 U.S. dollars per troy ounce and for the rapid delivery of 1538.47 U.S. dollars. Rise of gold prices is due to the Federal Reserve decided to hold interest rates at low levels and consequently make the dollar slumped.

In contrast the fall of the dollar varies inversely with other Asian currencies, the data show Taiwan dollar and Singapore dollar rose the highest. In fact there was a rumor that the Central Bank in the region will increase interest rates to restrain the rate of inflation. Countries that had raised interest include Indonesia, India, China, South Korea, Taiwan, Thailand and the Philippines.

The strong economic growth in Asian auto attract foreign investors into stocks and bonds outlets especially Indonesia, the target of the investors, indirectly cause a rise in the rupiah and this could push the inflation rate in Indonesia. (Winnie)