Gold rises to record $1132,40
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Business Day Online
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Published:
2009/11/16 10:01:58 AM
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Gold has risen to new record high on Monday, touching $1132,40 an ounce as a weaker dollar boosted prices.
Spot gold is now trading at $1132,25 per ounce while U.S. gold futures (GCc2) were at $1132,70.
That comes as morning reports in the Financial Times indicates that despite the rising gold price, production may decrease.
Silver, platinum and palladium also advanced this morning in Asia.
The US dollar is down again today against a basket of six currencies after a report showed Japan's economy grew more than economists expected in the third quarter.
China's banking officials also warned today that the ''continuous depreciation'' of the US currency had ''seriously affected global asset prices.''