Tuesday, November 24, 2009

Gold hits a new all-time high price on dollar weakness


The price of gold has hit a new all-time high, boosted by continued concerns about the weakening dollar.

Gold hit a record of $1,173.50 an ounce, up almost 2% from Friday close.

The expectation that US interest rates will remain low has put pressure on the dollar, making both gold and oil more attractive as an investment.

The price of US light crude oil was up more than $2 a barrel at one point on Monday, before falling back to end the day up nine cents to $77.56.

London Brent oil ended down 26 cents to $77.46 after earlier hitting $78.15 a barrel.

No comments:

Post a Comment