Gold prices surged again reached a new high, almost reaching 1588 dollars per ounce or one ounce is equivalent to 28.3 grams.
Gold prices could even reach U.S. $ 1587.97 per ounce in trading Thursday (14 / 7) on the London futures exchange. This record surpassed the previous high gold price reached on May 1 at a price of 1577.57 U.S. dollars.
Gold prices surged as investors believe the crisis in the eurozone is not finished. Gold is an alternative investment when financial markets are volatile.
"Gold is reaching new highs as investors continued to worry about the debt situation in Europe," said Ian O'Sullivan Spread Co analyst. He also said the price of gold had been eight days in a row continued to rise.
"The situation in Italy, Spain, Ireland and Portugal continue worrying. Coupled with the minutes of meetings of the Federal Reserve required that states the need for monetary easing. Investors saw this as the beginning of a panic, "he added.
He estimates, gold prices will continue rising for a while and then will stabilize at position 1520-1540 before returning to the U.S. dollar soared to a price of 1600 U.S. dollars.
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