Today Gold price hits the record per ounce $1600

For the first time Gold price hits the record per ounce $1,600.The gold price has risen day by day. But first time over the health of the global economy.$5000 an ounce by 2020 on slowing production growth and increasing demand from China and India,Hong Kong trade gold hit a record $1,607 per ounce.

Silver also touched a high of $38.68 per ounce. U.S. gold futures for July delivery rose $10.60 an ounce to $1,600.We will see what Europe and United States do with this. $1,510 or $1,520 look possible, but prices are starting to look a little stretched up here. There is enough uncertainty floating around heading into the middle of the year for people to stick with gold. The market is so fickle at the moment and it wouldn’t surprise me if we saw a sell-off.

Oil prices also recovered, rising back toward the multi-year highs they hit earlier this year as unrest in the Middle East and North Africa sparked fears of a supply outage. Some market watchers see gold consolidating at its current level as it waits for the next reason to push higher. Everything’s feeding into this, sovereign debt, weak dollar, inflation. Today Gold price per ounce $1,607 most of the people surprise.