Gold Price Rise In India
Why gold prices up so high?
From: http://www.fashion-accouterment.com/buy-gold/
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In Tuesday's session at the New York Mercantile Exchange, the contract of gold per ounce for delivery in August 2008 was set at a whopping $ 923.3. Consultant says could reach $ 1,000 an ounce next month.
Why Is the gold hot? It's partly that gold is simply letting yourself go in the global commodity boom. The prices of metals-copper, steel and gold have risen pronounced, with the price of sugar, soybeans, oil and natural gas. The increase in consumer and industrial bases in China and India. The production of most of these products is increasing, not only fast enough to meet demand, or perceived demand in the future. Basically, prices are rising because people are consuming more things.
There is no way out, but so far for gold. Or the global boom continues and leads the growing demand gold higher, or the boom goes bust and the resulting inflation does the work for the gold.
About the Author
There’s no way out but up for gold now. Either the global boom continues and rising demand carries gold higher, or the boom goes bust and the consequent inflation does the job for gold.
World Business: New Gold Dream 01/08/08
