The price of gold and silver rose is triggered by the weakening of dollar

The fall in the dollar makes gold and silver prices move up. Wednesday, prices of gold at the Comex division of the New York Mercantile Exchange, closed at $ 1,498.90 per troy ounce, up about $ 3.80. On that day, gold was traded at a price range of $ 1,493.80 to $ 1,506.50. As for spot gold prices, have risen about $ 3.40. Meanwhile, silver prices closed at a price of $ 44.46 per troy ounce, up 54 cents.

Gold and silver prices in 2011 have exceeded analysts’ predictions. Brian Hicks, co-manager of the U.S. Global Investors Global Resources Fund, dare to improve the predictions, if the price of gold will be able to penetrate the $ 2,000, while silver $ 100 within a period of 18 months. “I think it’s clear that we are in a bull market,” Brian Hicks said. “Gold and silver still have not surpassed their inflation adjusted highs like so many of the other commodities have. Gold and silver are still extremely small markets,” he added.

The rising of gold and silver prices is also sparked by the increased investment of both commodities. Nick Barisheff, CEO of Bullion Management Group, exemplifies the investment made by the University of Texas Investment Management, one of the largest pension funds, which buy as much as 6643 gold bars.

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