The commodity prices of gold have reached to near two month highs on Monday due to unrests in the Middle East while silver also hit the highest in recent history.
In the world commodity trading gold was seen trading at $1396.24 an ounce at 1.30 p.m Singapore time while US gold futures for April delivery also climbed 0.6 percent to $1,396.60 per ounce, compared to Friday's settlement at $1,388.60.
As said by the commodity analysts the commodity gold is likely to gain further in the Middle East due to unrest and it is increasing the demand of the commodity gold. Gold may rose as high as the record high of $1432.5 an ounce world commodity trading market.
The world's commodities largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings fell to 1,223.098 tonnes by February 20, its lowest in nine months, from 1,224.008 tonnes on February 15.
The commodity Silver is also advanced to its most expensive level in comparison to gold in 13 years. An ounce of gold is bought at 42.26 ounces of silver today, around the lowest amount since February 1998. Silver has more than doubled in the past year and commodity silver rose to a high of $33.08 an ounce, its highest since 1980. Holdings in the world's largest silver-backed exchange-traded fund, iShares Silver Trust, rose to 10,519.05 tonnes by February 18 from 10,438.56 tonnes on February 17.
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| Commodities |
As said by the commodity analysts the commodity gold is likely to gain further in the Middle East due to unrest and it is increasing the demand of the commodity gold. Gold may rose as high as the record high of $1432.5 an ounce world commodity trading market.
The world's commodities largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings fell to 1,223.098 tonnes by February 20, its lowest in nine months, from 1,224.008 tonnes on February 15.
The commodity Silver is also advanced to its most expensive level in comparison to gold in 13 years. An ounce of gold is bought at 42.26 ounces of silver today, around the lowest amount since February 1998. Silver has more than doubled in the past year and commodity silver rose to a high of $33.08 an ounce, its highest since 1980. Holdings in the world's largest silver-backed exchange-traded fund, iShares Silver Trust, rose to 10,519.05 tonnes by February 18 from 10,438.56 tonnes on February 17.
