Gold Just 2% from Record Nominal High of $1,577/oz - Targets $1,600/oz and New Highs on Deepening Economic Risks

from GoldCore newsletter@goldcore.com reply-to newsletter@goldcore.com to aucanary@gmail.com date Tue, Jun 7, 2011 at 7:30 AM subject Gold Just 2% from Record Nominal High of $1,577/oz - Targets $1,600/oz and New Highs on Deepening Economic Risks Gold is trading at $1,549.95/oz, €1,056.47/oz and £949.83/oz.

Gold and silver are higher again today with the U.S. dollar and yen in particular under pressure as concerns about the outlook for growth in Japan, the UK, the EU and the U.S. deepen. Gold reached new record nominal highs in sterling yesterday at £949.83/oz on concerns about the UK economy.

The risk of contagion in the Eurozone remains and could see the single European currency project unravel which would negatively impact on the global financial and monetary system.


Cross Currency Rates

SILVER
Silver is trading at $37.41/oz, €25.50/oz and £22.76/oz.

PLATINUM GROUP METALS
Platinum is trading at $1,819/oz, palladium at $804/oz and rhodium at $2,275/oz.


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