Gold rises to highest level in two weeks

Gold rises to highest level in two weeks

25/05/2011
Singapore - (Reuters) Gold prices rose to their highest level in two weeks ago in Asian trade on Tuesday with lingering concerns that the debt crisis in Europe could spread a way that threatens to spiral out of control. Traders said gold might be heading towards a record high struck earlier this month with the increasing attractiveness as a safe investment in view of fears of exacerbating the problems of debt in the euro area. The price of gold for immediate sale to 1518.14 dollars per ounce (ounce), the highest level since 11 May. But the precious metal is still far from its highest level ever of $ 1575.79 per ounce, which jumped him in early May. And prompted concerns about the debt crisis in Europe at the price of gold denominated in euros to record a new record high at 1081.43 euros an ounce. The dollar rose to its highest level in eight weeks against the pound sterling to near its highest level in 10 weeks against the euro in Asian trade on Tuesday on worries over the debt crisis the euro area to the economies of larger investors believe they are protected from infection risks.