gold price from $ 1,480 to hitting new high $ 1,598

Sustained high international price of gold, although there has recently retreated, however, experts believe, not in European and American in addition to debt concerns, coupled with pressure on European Banking did not pass the test with eight international financial situation is still uncertain under the global risk aversion high, the market is still a Bullish on the international gold price, gold is still short-term opportunity to challenge the $ 1,600 or even $ 1,700 by the end of the point of view, and on long asset allocation perspective, investors can be divided into batches bargain layout.

Gold analysts said that despite the austerity program passed by Congress Greece, Portugal and Ireland, but the Moody's bond credit rating has been lowered to junk bond level, the European debt crisis intensified, with renewed U.S. push QE3 concerns, the U.S. Treasury default risk increases, hedge funds into the gold market, the international gold price from $ 1,480 all the way hurricane frequency record higher hitting $ 1,598.

However, the subsequent Federal Reserve Board (Fed) Chairman Ben Bernanke told Congress that is not currently ready to start the third round of the bond purchase plan, stimulate economic growth, the dollar rebounded, taking the international price of gold, was back to $ 1,578.

gold price to new high -market worry about U.S. dollar risk

gold price to new high -market worry about U.S. dollar risk

The soaring price of gold and silver began Wednesday, when the Federal Reserve (Fed) Chairman Ben Bernanke (BenBernanke) made the third round of the quantitative easing policy introduced the possibility, he said, if necessary, the Fed may take further measures to support the U.S. economy.

Then, Wednesday night, Moody's (Moody's) to the U.S. credit rating on negative watch list, which prompted some investors to lose confidence in paper money, especially dollars.

For Paulson (Paulson & Co), John? Paulson (JohnPaulson) and green capital (GreenlightCapital), David Einhorn (DavidEinhorn) and other well-known hedge fund managers, the gold price surge is a good thing, they have created a lot of gold positions, betting on the U.S. public government and the Fed will not protect the dollar value.