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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.
From The New York Times: Gold Tops $1,500 an Ounce in ‘Flight to Quality’
Civil unrest in the Middle East, global inflation and debt drives gold prices to new highs. Read the article at nytimes.com.
From BBC News: Gold price hits record at $1,500 an ounce
“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.
From Bloomberg: Gold Rises Above $1,500 to Record on Weaker Dollar, Inflation
“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.
From JCK: Gold Smashes $1,500 Barrier
“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.
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