Gold Soar, Top Since February
Investors bought gold is still seen as a hedge.
Gold prices rose on Monday, September 17, 2012, near the highest level in seven months. This follows the position of the U.S. dollar is still depressed after the Federal Reserve to take bold action to spur the economy.
In the last week gold closed higher, as investors flocked to buy up gold is still seen as a hedge against the declining dollar. The increase in gold is a fourth weekly gain in a row.
The Reuters news agency reported, spot gold prices in the Singapore market rose Monday morning U.S. $ 4.93 per ounce to U.S. $ 1,774.39, after being at the level of U.S. $ 1777.51 on Friday, the highest since late February.
While the price of U.S. gold futures for December delivery at the end of last week up 0.24 percent to U.S. $ 1,776.90 per ounce.
Two of the world's top central banks, the Fed and the European Central Bank (ECB), has issued a number of additional monetary stimulus to spark the economy. However, the global economy is apparently still needs a lot of time for recovery from prolonged debt crisis.
The Fed's aggressive new plan is actually pushing the dollar weakened. The dollar terhadar euro pressured to its lowest level for more than four months.
On Monday, the euro was at U.S. $ 1.3108, near the peak of the four-month high of U.S. $ 1.3169 that occurred on Friday.
The dollar languished near its lowest level in seven months against a basket of major currencies on Monday. The dollar recovered only against the yen after the yen weakened against most world currencies.
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