The gold price is in February 2011 to reach this new record. Sun climbs the gold price to € € 1,021.58 per troy ounce (31.1 grams) and reached a multi-week high. The last time was the gold price on 19 January 2011 been traded at such levels. Rising global inflation trends, the demand for the yellow precious metal in recent weeks increased.
So the consumer prices in the euro zone to 2.4 percent in January 2011 compared to the same month last year. The European Central Bank (ECB), however, is aiming at inflation below two percent in order to maintain price stability. In the UK, consumer prices rose by +4.0 percent over the same period, while China inflation from +4.9 percent to show.
Thus, the gold price in 2011 primarily for financial investors become more attractive again. investors could look for a memory, because they fear that the extremely expansionary monetary policy of central banks undermines the value of paper money.
U.S. inflation, risk premium
first signs of inflation are attractive to watch in the United States. Excludes the core index would rise to U.S. producer prices, which food and energy prices, from +0.2 percent to +0.5 percent. Economists had expected to stagnate at the producer level of the inflation rate and a value of +0.2 percent for January 2011 compared the previous month.
addition, the gold price in dollars and € 2011 is currently affected by the events in North Africa and the Middle East positive. Traders speak of a risk premium, which is currently priced primarily in the oil price but also in the gold price am.
Thus, the gold price € 2011, continue their upward trend, from a technical point of view, the yellow precious metal must rise above the threshold of € 1,075 per troy ounce. Between € 1,070 and € 1,075 gold was five times in December 2010 and January 2011 have bounced down. A jump of this important technical chart resistance opens the door for gold prices over € 1,100.
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