Gold Prices Reach New Record

Gold prices again jumped to 1632.74 U.S. dollars per troy ounce in European markets trade on Friday (07/29/2011). These prices rose after the U.S. dollar exchange rate weakened because of U.S. economic growth in the second quarter of disappointing. In trading in London on Wednesday (07/27/2011), price of gold rose to 1625.7 U.S. dollars per troy ounce. Earlier, in trading Tuesday, a record at the price of gold carve 1624.07 U.S. dollars per troy ounce. One troy ounce is equivalent to 31.1 grams. U.S. gross domestic product grew only 1.3 percent, while the previous estimate of 1.8 percent. High fuel prices caused consumers to refrain from shopping. Shares in Europe also fell off in mid-trade.

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