During the trading session on July 18 the gold price exceeded 1600 dollars per ounce (about 31 gram), AFP reports. About 13:45 (Moscow time) the price of the precious metal with delivery in August a little lowered and NYMEX fixed it at 1598.8 dollars.
On July 13 the gold price broke the record at 1579.7 dollar an ounce. The price was higher only in 2009 but the last year showed the price growth by 30%.
Investors put money into gold because considering it as a good shelf against the European sovereign debt crisis escalation and the technical default which threatens the United States if the government fails to increase the state debt till August 2.
On July 13 Moody’s rating agency sent the US rating for the review with potential reduction. At the same time, Fitch promised to divest the USA of its highest rating if a problem with the state debt remained unsolved. In April S&P agency changed the US rating forecast from “stable” into “negative”.