After a European agreement to address the debt crisis .. Gold rises nearly 1% to record 1688 USD/Troy an ounce

Europe

gold prices in the spot market by nearly 1%, the recording of $ 1688.50 an ounce.”

The agency said “the price of gold reached at the previous close in New York of $ 1694.35 an ounce.”

The price of gold record early last November, a record high of $ 1920.30USD/ Troy an ounce, before falling after Switzerland adopted its peg to the euro, which impact directly on the price of gold and helped bring it down.

Analysts expect gold prices will exceed the barrier of $ 2000 USD/ Troy  an ounce this year and so on fears of the poor performance of the global economy in general and the European and American in particular.

And continue many of the global markets in the search for an alternative to the U.S. dollar, “weak”, with some markets went toward keeping the yellow metal as a strategic reserve for their central banks, rather than the dollar, which contributed to the strengthening demand for gold as a safe haven.

The analysts that gold is rising in nearly ten years may continue to rise over four years, albeit at a slower pace with the decline in inflationary risks by shifting to a more normal economic conditions.

This came after gold prices were recorded last March with a decline reached its lowest level in three months, amounting to $ 1319.13USD/Troy an ounce, due to the decline in demand to buy it as a secure investment, with the dollar’s recovery from the depressed levels.

Referred to as the expected continued high price of gold with the rush of investors to the yellow metal a safe haven, and speculation high rate of inflation in the United States because of printing more dollars to finance the economic stimulus plan.