Thursday, April 28, 2011

Gold Hits Another Record High

A record high for gold and the decline of the dollar : Gold prices increased 2.4% in first quarter : The sharp decline of the dollar boosted gold's gains
Gold prices continued to break record highs on Thursday, benefiting from the steady decline of the U.S. dollar at its lowest level since July / July 2008, after it became clear that the United States will keep its monetary policy as is.
Gold in the spot market Has reached the highest level ever at U.S. $ 1532.91 per ounce (ounce equals 28.25 grams), which is a ninth record high in nine sessions, before easing slightly to the price of $ 1530.80 an ounce."The American population is just now beginning to realize that their 401k turned into a 201k and we've got to have something to counterbalance the typical cash stocks bonds," Michael Haynes, CEO of American Precious Metals Exchange told CNBC

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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