Saturday, May 7, 2011

Silver, gold hit a record high at a 30-year high.

<P> Beijing because of the weak dollar on Friday morning news increased precious metal investment demand, gold futures on Thursday broke through $ 1,370 an ounce. .Gold futures in more than five weeks time, the 17th consecutive trading day reaching record highs. .</ P> <P> the New York Mercantile Exchange, COMEX gold contract sector December delivery rose $ 7.10, to close at $ 1,377.60 an ounce, or 0.5%. .The stock hit an electronic trading system an intraday high of $ 1,388.10. .</ P> <P> Wednesday, the contract rose $ 23.80, to close at $ 1,370.50. .</ P> <P> DeltaGlobalAdvisors BruceZaro chief technical analyst, said, "quantitative easing measures the weak dollar and prompted investors to buy gold is expected to protect the security of assets." </ P> <P> U.S. dollar against the other 6 tracks major currencies .U.S. dollar exchange rate index fell 0.6% to 76.59 points. .</ P> <P> Zaro said, "The dollar index reached 88.50 points since June after a sharp drop in the high-point, close to last October has hit multi-year low of 74.50 points. We expect in the medium or the recent U.S. dollar .to rebound, this will lead to bulk commodities, particularly gold prices fell. "</ P> <P> He said the dollar may start to rise in early November that the U.S. mid-term elections after the end of quantitative easing and the Fed .whether the release program will enhance the market uncertainty. .</ P> <P> silver futures on Thursday, breaking 24 dollars an ounce, the highest 30-year high. .Copper (63 390, -360.00, -0.56%), together with the stock market weakness, but the current has been rising at a record high for many years. .</ P> <P> for the first time claims for unemployment benefits last week unexpectedly rose, the U.S. stock market fell. .</ P> <P> Deutsche Bank analyst said Thursday in a note to clients said, "The irony is that both the fear of inflation and deflation, or, regardless of dollar is up or down, investors will .buy gold. This has made us worried about the volatility of gold futures may become increasingly irrational. "</ P> <P> They said one-way gold is a safe investment, regardless of whether the Fed purchase of government bonds, gold will be .benefit. .</ P> <P> 12 front-month silver contract rose 50 cents to $ 24.44 an ounce, or 2.1%, a 30-year high. .</ P> <P> 12 month copper fell 0.1% to $ 3.816 a pound. .</ P> <P> 12 月 palladium futures rose $ 7.90 to $ 601.55 an ounce, or 1.3%. .January platinum futures delivery rose $ 5.20 to $ 1,712.60 an ounce, or 0.3%. .</ P>.

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