Asia Bizz: Gold Remains On Record On US Expectation On Monetary Easing
Gold prices still remained on a record high on the sixth day on Friday, as US was expecting some monetary easing on their currency. The Gold rates were pimped up by 1% by Friday, which is a really high rate that the US Economy is witnessing. On the other the Dollar is not performing once again, as it fell to six month low against the Euro.
The authorities are raged to bring in some more concrete plans to boost the Economic growth, but up to their expectations nothing is still working. The manufacturing and production sector too has slowed down, and as a result of which the monetary easing policy needs to recommended soon.
Gold sparkled at $1320.8/ounce on Friday, and along with Gold other precious metals to are recording very high prices. Platinum recorded a four month high record, and silver rates are touching sky high. The main worry here is not the price of Gold, but it is the Dollar which has plunged greatly against some of the major currencies of the world.