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Posts Tagged ‘U.S. dollar index’

Increasingly shiny gold price. On Friday (9/4/2010), the price of gold for June 2010 delivery on the Comex division, the New York Mercantile Exchange (NYMEX), up 0.78 percent to 1161.9 U.S. dollars per troy ounce. This is the highest price of gold in the last three months.

Rising trend in gold prices since the end of March. Indosukses Futures analyst, Herry envoy, said that currently the market is still seen no economic uncertainty, especially in the European region. In addition, relatively low interest rates and stock prices are more expensive on the market to make investors put their assets into gold. ‘During this week, the price of gold would still be consolidated in the range of 1130 dollars per troy ounce-1170 U.S. dollars per troy ounce, “he said yesterday.

This precious metal price movements are also always in conflict with the U.S. dollar exchange rate. In the last week, the U.S. dollar index, which reflects the currency’s exchange value against major world currencies, fell 0.54 percent to 81.09 positions.

Exchange rate of U.S. dollar fell against the euro to 1.35 U.S. dollar’s position compared to the previous day at 1.3361 U.S. dollars. U.S. dollar also fell against the British currency. Late last week, the dollar exchange rate closed at 1.5370 U.S. dollar positions per pound compared to the previous day’s 1.5280 dollars per pound.

Stephen Platt, analyst with Archer Financial Services in Chicago, the judge, when investors feel uncomfortable with the domestic currency, they will buy the precious metal as a safe haven. “The increase in gold prices reflection flow of funds out of paper assets,” he told Bloomberg last weekend.