The pouring in of large amount of investment fund has resulted in the sharp price hike of precious metals at New York Mercantile Market on April 19, setting the 25 year-high of gold price in particular.

Analysts believe that the key factors that propel the price hike of gold lie in the rocketing crude price in the international market and the escalating anxiety over the Middle East situation.

At the New York Mercantile Exchange, the forward price of gold to be delivered in June rose by 12.7 US dollars an ounce, closing at 636 US dollars, with the highest hitting 637.4 US dollar. The gold spot rose by 12.6 US dollars an ounce, closing at 632.6 US dollars. Now the gold price has reached the peak since 1980.

The forward price of silver to be delivered in May climbed up by 73.3 cents, closing at 14.522 US dollars, with the highest hitting 14.575 US dollars. This was the first time that silver price has surpassed 14 US dollars an ounce since 1983. Additionally, the forward price of platinum to be delivered in July was up 7.8 US dollars an ounce, closing at 1130.9 US dollars.

By People's Daily Online