VOA标准英语2009年-Gold Price Reaches New Highs

By Mil Arcega
Washington
08 October 2009
 
Gold coins and bars (file photo)
The gold rush continues as the price for the precious metal climbed to new heights this week. Inflation fears and worries about the weak U.S. dollar sent the price of gold soaring briefly¹ above $1,060 dollars an ounce on Thursday, before settling back down to about $1,045 dollars. But analysts³ are divided on how long the upward trend can last.

As a weak U.S. dollar loses its luster⁴ in world markets, investors⁵ looking for safe harbor are turning their attention to gold. And because gold is traded in dollars, the declining value of U.S. currency is making the precious metal more attractive.

Gold bullion⁶ has gained nearly 20 percent this year, a trend metals analyst² Dan Smith predicts will continue. "Gold will continue to push higher, although not at a dramatic pace, so that will be really continuing what we've seen over the last few months. So I think, $1,100 average for next year is our target, sorry, our forecast," he said.

Gold prices for December delivery surged briefly above historic highs Thursday, on fears that a declining dollar could spark inflation. But some analysts say gold rallies are almost always followed by a correction.

Investment analyst Nic Brown believes the rally is unsustainable. "Gold is exhibiting all the characteristics of a financial bubble. We see that investment flows are overwhelming the fundamentals of the market which are progressively weakening as the price continues to increase. For us it's a bubble. It is very difficult for us to know how much further it can go," he said.

High gold prices have been felt most acutely in India, one of the world's largest consumers of gold. October is traditionally peak buying season for gold in India as religious festivals get underway. But Abhinav Malhotra, the owner of Rama Jewelers in New Delhi, says fluctuating gold prices are driving consumers away. "Because one day it's in lower margin⁷, another day it goes high. So there's not enough consistency⁸ in gold rates. Unless there's a consistency, you don't expect people to buy casually⁹ because festival buyers are generally casual buyers," he said.

Some investors are betting the price of gold will continue to rise as dollar-priced commodities such as oil lose their value against stronger currencies. Driving speculation¹⁰ is a reported plan by some oil producing nations to use currencies such as the Euro and the Chinese Yuan for oil trades.

1 briefly   

adv.简单地，简短地

参考例句：

• I want to touch briefly on another aspect of the problem.我想简单地谈一下这个问题的另一方面。
• He was kidnapped and briefly detained by a terrorist group.他被一个恐怖组织绑架并短暂拘禁。

2 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

3 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

4 luster   

n.光辉；光泽，光亮；荣誉

参考例句：

• His great books have added luster to the university where he teaches.他的巨著给他任教的大学增了光。
• Mercerization enhances dyeability and luster of cotton materials.丝光处理扩大棉纤维的染色能力，增加纤维的光泽。

5 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

6 bullion   

n.金条，银条

参考例句：

• In the London bullion market yesterday,the price of gold was steady.昨天伦敦金银市场黄金价格稳定。
• Police have launched a man-hunt for the bullion robbers.警方已大举搜捕抢劫金条的罪犯。

7 margin   

n.页边空白；差额；余地，余裕；边，边缘

参考例句：

• We allowed a margin of 20 minutes in catching the train.我们有20分钟的余地赶火车。
• The village is situated at the margin of a forest.村子位于森林的边缘。

8 consistency   

n.一贯性，前后一致，稳定性；(液体的)浓度

参考例句：

• Your behaviour lacks consistency.你的行为缺乏一贯性。
• We appreciate the consistency and stability in China and in Chinese politics.我们赞赏中国及其政策的连续性和稳定性。

9 casually   

adv.漠不关心地，无动于衷地，不负责任地

参考例句：

• She remarked casually that she was changing her job.她当时漫不经心地说要换工作。
• I casually mentioned that I might be interested in working abroad.我不经意地提到我可能会对出国工作感兴趣。

10 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。