Fearing Inflation Higher, Gold Prices Soar
Gold prices rose again in the trend in trading Friday, April 15, 2011. The increase came after several days earlier has decreased due to Goldman Sachs's appeal for investorsto take profits.
Gold prices are expected to climb to the level of U.S. $ 1,500 per ounce due to investorfears of inflation in the various worlds that start higher.
Gold for June delivery rose U.S. $ 3.4 was recorded to be U.S. $ 1,475.80 an ounce onthe Comex division of the New York Mercantile Exchange. Gold prices touched record highs at the level of U.S. $ 1,480.50 an ounce.
Meanwhile, silver prices also continued to crawl up 74 cents to U.S. $ 42.40 and is nowtargeting the highest price target on the level of U.S. $ 43.
5 April 2011 stated the price of gold and silver began to rise since Thursday or whenmetal prices were up 1.1 percent and 3.5 percent.
The increase in gold continued on Friday as investors tried to invest the funds in gold as an effort to protect the investment against inflation.
As is known, the Chinese government reported economic growth is slowing, but with a warming rate of inflation. In the first quarter of 2011, economic growth rose by 9.7 percent year on year, orexceed the forecast in various circles.
The increase also occurred in China's inflation rate in March to 5.4 percent, higher than the position in February of 4.9 percent.
China's inflation rate actually has been known to last Thursday, but European countriesclaim to be surprised by rising inflation which reached 2.7 percent.
James Moore, analyst at FastMarkets say, gold is finding the momentum of rise after abrief consolidation period.
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