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The price of gold went the $1,900 per ounce mark for the first time ever on Monday. The rise is because of growing concerns about a recession in the global economy. Two main are driving fears of a worldwide economic slowdown – the faltering U.S. economy and the debt in Europe. Investors have traditionally put their money in gold times of financial uncertainty. They see it as a investment. This saw the price of gold rise to $1,913 an ounce in Singapore before down to $1,897 an ounce at the of trading. Industry experts believe gold prices could rise even further as more economic gloom makes investors increasingly .

Analysts say that speculation that the US government may new stimulus measures is also increasing the price of gold. America’s Federal Reserve may have to print more money to America’s economy, which could see the US currency . A weakened dollar up gold prices. Analyst Colin Whitehead explained: "The underlying of gold prices is the depreciating US dollar value, so the more money they print, the gold gets." Another economist, Peter Richardson of Morgan Stanley, suggested market had little on gold. He said: “Gold has continued to blast even with a relatively strengthening U.S. dollar, strongly performing treasuries and other havens.”

 


 
 
 
 
 
 
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