Bank Of Baku

Gold price reaches historic peak

Gold price reaches historic peak
# 13 July 2011 14:21 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. On the cash market of precious metals in London today for the first time the price of gold exceeded $ 1570 dollars / ounce, updating its historic peak.

Rise in price of gold firstly can be associated with the debt crisis in Europe. In addition, a negative effect on investors and increase the demand for gold, which is considered a reserve asset, such factors as having occurred in the U.S. economy problems, a sharp increase in public debt of the country, uncertainty to increase the limit on the debt and the problems encountered on this issue in the federal budget.

Note that, price of gold grew by 13.5% since the beginning of the current year:


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