Gold and silver prices increase on global demand

June 20, 2011 - PRLog -- Gold and silver prices  increase on global demand
Gold and silver priceses were rallying Monday on safe haven buying as the U.S. dollar index gave up gains.

Gold for August delivery was adding $5 to $1,544.10 an ounce at the New York Mercantile Exchange.

Silver prices were adding 15 cents to $35.90 an ounce.  With no resolution to Greece's debt crisis, investors were buying gold and silver as protection against a worldwide, double-dip recession.  

Albanian Minerals projects a record increase on gold, silver and metal prices in Q3 and Q4, 2011 .  
Gold prices advanced to  $1,544 in global markets as a weaker dollar and European debt concerns boosted the metals appeal as an alternative investment.  

Albanian Minerals President Sahit Muja said "Strength in the gold prices is expected to increase as demand from China is expected to doubled in 2011".

Gold prices rose despite strength in the U.S. dollar versus the euro and pound.

Concerns that Greece was on the verge of restructuring its debt weighed on the euro and helped drive investment demand into gold and other precious metals.  

Shares rose  for gold mining producers and explorers followed the surging gold price higher.

Investors has increase the gold purchasing in India to protect the assets from devaluation.

India's annual rate of inflation, based  to 8.65 per cent for May 2011 .

Global gold demand in the first quarter of 2011 totaled 981.3 tonnes, up 11% year-on-year from 881.0 tonnes in the first quarter of 2010.

In the dollar value this translated to U.S. $43.7 billion in 2011, compared with $31.4 billion in the first quarter of 2010

China has surpassed India as the world’s top gold market this year.

Chinese investors more than doubled their purchases of gold during the first quarter in 2011, compared to the same period last year.

China has invested $4.1 billion into gold bars and coins during this first quarter of 2011.

China’s investment demand increased to 90.0 metric tonnes (40.7 tonnes in the year prior), compared to India’s 85.6 tonnes.  

The first quarter, investments into bullion surged 179% in China totaling $4.1 billion

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Albanian Minerals is Metal Mining and trading Company one of fastest growing mineral company in Europe