Gold price hits new record high

25 April 2011 09:45 am last update the price of gold has hit another record, but goldsmiths work with the rare Welsh gold is StrugglingThe prices of gold and new record highs, driven by a weaker US dollar silver and made ongoing tensions in the Middle East and North Africa.

Gold rose as high as $1,518.30 (￡ 918.70) an ounce during morning trading in Europe, before he back.

Silver briefly reached an all-time high of $49.79 an ounce before retreating to $49, still the highest since 1980.

Investors have precious metals as a haven against inflation and recent purchase was geopolitical turbulence.

Analysts say that even as high as $1600 ounce may be gold.

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the dollar could even weaker, unless it were groundbreaking comments from Bernanke "

Ong quote end Yin Ling Phillip Futures Monday was the seventh consecutive trading session rise saw the price of gold."

The price of gold has risen six in the last 10 years and 2008 more than doubled since the global financial crisis.

However, the price of silver was even more volatile, that since 2008 five times higher and 12-fold up in the ten last years.

Down in the morning in London on Monday silver was traded directly below high of $49.45, reaching it in 1980 after the Islamic revolution-related oil price spike.

' Dollar play'

"It's the dollar play," said a trader in Singapore. "There is more room for prices or go higher."

Read the most important story that a weaker dollar generally correlates with higher gold prices, as both as a safe investment are seen.

On Wednesday, the Chairman is expected of the US Federal Reserve, Ben Bernanke, the commitment of the America's Central Bank to the quantitative easing, a program for the financial markets floods with liquidity to confirm.

Which also tend to drive the value of the greenback.

Analysts say that investors who drive higher returns in the direction of gold is view of low interest rates in the United States.

"Investors expect the Fed still with low, which means that the dollar could be even weaker, unless it were groundbreaking comments from Bernanke," Ong said Yin ling of Phillip Futures.

Continue to the uncertainty in the Middle East nervous respond to investors. An escalation of violence in Yemen and Syria over the weekend has also helped to increase the price of gold.

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