The price of gold in the spot market this morning was recorded at the position of U.S. $ 1081.89 per ounce, down from the level last weekend at U.S. $ 1083.10 per ounce.

Meanwhile, from Singapore reported contract price of gold rose triggered speculation decreased to the lowest level in 3 months attract more investors.

Gold for immediate delivery rose 0.3% to U.S. $ 1084.36 per ounce at 8:21 pm in Singapore. Precious metal prices touched the lowest level since 3 November 2009 at U.S. $ 1073.85 per ounce on January 28. February gold contract on the position of moving thin U.S. $ 1084.30 per ounce.

Gold usually moves opposite to the U.S. dollar, in which the precious metal declined in the second month as the dollar rallied 2% against six major currencies basketball.

The dollar traded near the highest position of 7 months against the euro as an indication of the world’s largest economy gained momentum to raise the demand for U.S. assets.

U.S. dollar at the level of U.S. $ 1.3864 per euro in Tokyo from U.S. $ 1.3863 in New York on 29 January.

Among the other precious metals, silver rose 0.3% to U.S. $ 16.2575 per ounce, platinum rose 0.5% to be U.S. $ 1512.50 per ounce and palladium thin shifted to U.S. $ 417.5 per ounce.

On the New York Mercantile Exchange Comex division, Thursday (28/1/2010) local time, February delivery gold prices closed 0.08 percent lower at 1083.60 U.S. dollars per ounce.

While in Hong Kong, Friday morning, precious metals prices fell to a position opened 1.086,00-1.087,00 U.S. dollars per ounce, cheaper than the closing 1.089,50-1.090,50 Thursday in U.S. dollar positions.

As quoted by AFP on Thursday (21/1/2010) crude oil prices for February delivery contract fell $ 1, 4 to $ 77, 62 per barrel in trading for the contract last February the New York Mercantile Exchange (NYMEX). While in London, the price of Brent crude for March contract fell $ 1, 31 to level USD76, 32 per barrel on the ICE Futures.

U.S. stock markets tumbled as the banking concerns that the U.S. economy is still fragile and require a long time to recover. U.S. dollar also rose against major currencies other world, so the price of oil becomes expensive for investors who use currencies other than U.S. dollars.

Meanwhile, palm oil prices first fell on Wednesday trading, triggered by a report from the State Bamboo Curtain, China’s government says China to tighten policy further to avoid the risk of bad debts, banking.

China is the largest oil consumption country in the world, and economists expect this year was the demand of China oil consumption increases. However, these government-related measures, leading to fears that the economic recovery in China is still doubtful.

Gold prices also rose by 13 percent this month to USD1, 178. “Media reports in India the current market momentum,” said Head of Trading Investec Australis Darren Heathcote, as quoted by Reuters on Wednesday (25/11/2009).

Meanwhile, the dollar fell to its lowest level since seven weeks ago on yen currency. This happens because of the many pressures on the dollar, one of which is that American interest rates are still not  increase.

In addition, the positive sentiment also came from Japan, where the economy has started to improve with the improvement in trade balance Affairs Bamboo Curtain-III quarter 2009 compared with the same period the previous year.