By Erika W.
Gold Prices News Roundup
Prices for gold and other precious metals have hit new highs with gold reaching $1,500 an ounce on April 19. Jewelers have been grappling with rising gold prices, and some designers have been developing collections in silver and lower karat gold alloys as a result. Gurhan, a designer who works in 24k gold, introduced his 4/24 line, which incorporates a 4k gold alloy. In addition to the 4/24 collection, the designer has a silver line for reduced costs and lower prices for clients. Silver has reached $44.34 an ounce, a 31 year high.
Civil unrest in the Middle East, global inflation and debt drives gold prices to new highs. Read the article at nytimes.com.
“In Hong Kong trade, gold hit a record $1,500.70 an ounce, which traders said was mainly due to Standard & Poor’s downgrade of its outlook on US debt.” Read the article at BBC.
“Gold futures rose to a record for the ninth time this month as a weakening dollar boosted investment demand for the precious metal as an alternative asset. Silver topped $45 an ounce for the first time since 1980.” Read the article at Bloomberg.
“Gold first crossed the $1,400 an ounce benchmark on November 8. It first broke the $1,000 barrier in March 2008.” Read the article at JCK.
Discuss rising gold prices on the Forum