Gold Prices Per Ounce Today Soars Above $1,500

By on Apr 20, 2011 in Asia, Business, Current Events, Economy, World Comments
Gold Prices Per Ounce Soars
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Gold prices per ounce has breached the $1,500 mark today due to global economic recovery concerns, according to a BBC report.

A record price of $1,500.70 per ounce of gold was registered in a Hong Kong trade.

According to traders, the rise in gold prices is mainly due to the Standard & Poor’s (S&P) downgrade outlook rating on US debt.

Silver continues to soar and has hit a 31-year high of $44.34 per ounce.

Analysts are looking at the possibility that prices of gold may still go up to $1,510 or $1,520 per ounce. They cannot say however, if the trend in Asia will continue in Europe and US.

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