Gold Price Highest Level in Month : Investors panicked again. U.S. data to make market players worried about slowing global economic recovery. The result, they return the gold hunt. No doubt, the gold price moves toward to the highest level last month since April.At 09:15, the gold price contract for fast delivery did not undergo much change in the position of 1236.90 U.S. dollars per troy ounce in Singapore. Thus, in this month, the price of gold has increased by 4.7 percent. The yellow kinclong even breached record levels in June. Meanwhile, the contract price of gold for December delivery was also not changed much in the position of 1237.70 U.S. dollars.
"Driven by high demand, the price of gold has increased significantly lately. During the economic data being released is still weak, the interest of investors towards gold will still be high," said Eugen Weinberg, Head of Commodity Research Commerzbank AG.
A number of analysts predict the gold price increase for the year 2011. Middle value of 29 analysts surveyed by Bloomberg shows that the price of gold will rise to the level of 1500 U.S. dollars next year
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