Gold reached highest level in all times!

Gold Trade

Gold reached highest level in all times!

Gold for immediate delivery had reached a record of $1,313.45 and experts predict it can reach $1,500; it is the best moment in the history for Gold Trading. Prices have gained 20 percent this year.

Global gold hedges, or sales of future production, gained the most in more than four years in the second quarter, researcher GFMS Ltd. said.

The worldwide hedge book gained about 160,000 ounces to 7.19 million ounces in the quarter, GFMS said in a report. That’s the first and biggest increase since the fourth quarter of 2005, GFMS mining analyst Matthew Piggott said by telephone from London.

Gold producers sometimes sell future output at fixed prices to secure loans.

They can reduce hedges by buying back contracts, adding to demand. AngloGold Ashanti Ltd.,
Africa’s largest gold producer, said this month it raised about $1.58 billion through the sale of shares and convertible bonds, and will use the funds to buy itself out of forward-sales agreements that stop it benefiting from record prices.

Producers will de-hedge about 4.21 million ounces this year, GFMS estimates. Still, gold miners will return to hedging, according to 77 percent of participants in a survey at a London Bullion Market Association conference in Berlin on Sept. 28.