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Gold continues record streak


HB FRANKFURT. In anticipation of new economic support measures by the U.S. Federal Reserve, investors have once again climbed across the board in commodities zugegriffen.Der price for an ounce of the precious metal on Thursday morning to a record high of $ 1,380.45. The price for the industrial metal copper with a $ 8,415 shot in the head at the highest level for two years. The price of silver is on a 30-year high, palladium reached a 9-year high.

The price of the ounce of gold climbed on the spot market in Asia by another 0.5 percent to an all-time high of 1.379.30 U.S. dollars before the price in Seoul gave in easily to 1.377.88 dollars. The December futures, meanwhile, reached at 1.380.30 dollars at the Comex in New York. a new record. Silver rose 1.6 percent to 24.38 per troy ounce, which is the highest price since March 1980.

"It’s the old story: the talk about a package to stimulate the U.S. economy and too much Liquidity, "said Ronald Leung of commodities trader Lee Cheong Gold Dealers in Hong Kong. "There is virtually no interest, Therefore, each run in commodities and the stock market. "After his assessment of the mark could soon be $ 1,400 be achieved.

The euro rose on Thursday morning to to $ 1.4094 and was as expensive as last end of January.

The barrel of U.S. light crude WTI cost $ 82.75 with 1.3 percent more than the night before in New York, North Sea oil rose in price by just over one percent to $ 84.36.

Investors are speculating that the dollar any further cash infusions, the Fed even more the case, said a dealer. According to the minutes released on Tuesday the recent central bank meeting last solidified the willingness of bankers to take the dollar printing presses again. This not only circulates more money that could be invested in the commodities market, "said the dealer. A weakening dollar makes oil and copper for investors from other currency areas even cheaper.

Indians buy more gold

Floating on the oil price, according to traders had also rising import figures from China. The oil imports rose in September compared to the previous year by 35 percent – and thus faster than ever before. According to the International Energy Agency, the People’s Republic has overtaken the U.S. as the world’s largest energy consumer.

Lift the gold price received not only by the adoption of some investors that the inflation risk increases with the support policies of the Fed. The strong physical demand for gold was the precious metal as a safe haven in force tailwind. Edel Tully, precious metals strategist at UBS, Said that the bank had sold so far this year more gold to customers in India a year ago.

German Bank analyst Michael Lewis believes that gold prices will continue to grow. "We are very optimistic for the gold price," he said. "In May we have spent $ 1,600 as our price target." At that time, was still very high, since many of the expected rise in the price at that level. Gold has risen in the last month alone, nearly ten percent, while the U.S. dollar had fallen against a basket of other currencies at seven percent.