The price of gold and silver prices this week reached levels not seen for months. The reasons for success: the fall of the dollar. The ounce of gold has climbed to 961.33 dollars, its highest level since March 26. Against the euro, the dollar fell to 1.4030 euro, its lowest level this year against the European currency. the blood of investors has made a turn, propelling gold prices. Reviving fears of inflation, the falling dollar encourages buying of gold, this type of investment they can preserve the value of their heritage. Analysts believe however that the price of gold has resumed in recent meetings to monitor the movements of currencies. According to figures published this week by the World Gold Council (WGC) – federation of the major gold mining industry – in its quarterly report, the demand for gold for investment purposes was the main source of growth during the quarter. The latter has reached 596 tonnes, up 248% over first quarter 2008. Fears of inflation have boosted the global demand for gold by 38% in the first quarter. In Switzerland, sales of coins and bars have increased fivefold over the same period last year, to register for 39 tonnes. The country is in second place behind Germany, where sales have quadrupled to reach 59 tons, and the United States, where they have more than doubled with 27.4 tons. Figures prepared by the firm GFMS for the WGC, show record levels of investment in specialized funds are ETFs (Exchange Traded Funds). The application literally exploded, increasing by 540% to 465 tonnes, exceeding for the first time since 2004 the demand for jewelers. On the London Bullion Market, an ounce of gold finished at 959.75 dollars at auction Friday evening, against 929.50 dollars last Friday. The money – seen as an alternative investment to gold – rose about him 14.83 dollars an ounce, its strongest level in almost nine months (since August 14). The ounces closed Friday at 14.83 dollars against 13.92 dollars a week earlier.
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