Successful Euro Sent Gold to 16yr High

Gold prices reached the 16-years-high level at the European trading Monday amid stable euro against US dollar in view of the concerns about instability of economic growth in the USA.

In dealers? opinion, the gold listings are coming near to January?s peak of $430,50 per ounce, because investors are concerned about increasing inflation due to record oil prices. Moreover, bears may start to sell gold, if its quotations don?t exceed the border of $430, according to many analysts.

On Monday gold quotations at spot market were fluctuating around $429 per ounce. Friday?s gold ounce cost $424; however, the prices reached the 6-month maximum of $430.20 during the session on Monday.
Euro rose on Monday to $1,2819, coming closer to February?s high of $1,2927.