SINGAPORE - The contract price of gold back up on Monday (06/06/2011) this morning. A number of factors that encourage the movement of gold, among others, there is speculation that the cost of borrowing in the U.S. will remain low after economic data signaled that the global economic recovery will slow. Conditions that hit the U.S. dollar and raise the prestige of gold.
At 8:49 pm Singapore time gold price contracts for quick delivery rose 0.2 percent to 1545.10 U.S. dollars per troy ounce. On June 3, then the price of gold was up 0.6 percent.
“The low of U.S. economic data led to speculation that the Federal Reserve will again poured quantitative easing,” said Lachlan Shaw, an analyst at Commonwealth Bank of Australia.
