Gold Nears $450

The price of an ounce of gold reached $448,25 in New York on Monday (November 22) and $449 in the Far East.

Analysts say the price of gold could reach the 1987 level of $500 and say the devaluation of the dollar can help gold prices rise. Increased geopolitical tension, primarily in Iraq, and the fear that increasing oil costs will cause inflation in developed economies are listed as additional reasons for the rise in gold prices.

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