- Prison Planet.com - http://www.prisonplanet.com -

Gold hits new record high on dollar weakness

Posted By admin On November 16, 2009 @ 4:59 am In Featured Stories,Money Watch | Comments Disabled

David Gardner
London Telegraph [1]
Monday, Nov 16th, 2009

Gold prices hit a fresh record high above $1,130 an ounce on Monday and traders reported fund buying, with a weak dollar offering additional support.

“Someone had an interest in making a new high,” said Michael Kempinski, a trader at Commerzbank. “Technically it’s looking quite good now … quite bullish levels.”

“There is no bullish news that can give a reason for the move, so maybe someone is playing games and trying to protect their position,” he added. “$1,150 is the next level.”

Mr Kempinski added that gold, which touched a high of $1,132.95, was also buoyed by a weaker dollar and rising oil prices.

A weak US currency makes metals priced in dollars less expensive for holders of other currencies.

Full article here [1]

“When the people find they can vote themselves money, that will herald the end of the republic.”Fall Of The RepublicBuy the DVD here [2]

Gold hits new record high on dollar weakness  FOTR 340x1692 [2] 

Article printed from Prison Planet.com: http://www.prisonplanet.com

URL to article: http://www.prisonplanet.com/gold-hits-new-record-high-on-dollar-weakness.html

URLs in this post:

[1] London Telegraph : http://www.telegraph.co.uk/finance/currency/6579859/Gold-hits-new-record-high-on-dollar-weakness.html

[2] Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html

[3] PRECIOUS-Gold hits record high as dollar slides: http://www.prisonplanet.com/precious-gold-hits-record-high-as-dollar-slides.html

[4] Gold hits new record high for third day: http://www.prisonplanet.com/gold-hits-new-record-high-for-third-day.html

[5] Gold hits record high $1,180 per ounce: http://www.prisonplanet.com/gold-hits-record-high-1180-per-ounce.html

[6] Gold hits record near $1,150/oz as dollar slips: http://www.prisonplanet.com/gold-hits-record-near-1150oz-as-dollar-slips.html

[7] Gold in euro terms hits record high 816.33 euro/oz: http://www.prisonplanet.com/gold-in-euro-terms-hits-record-high-816-33-eurooz.html

Copyright © 2013 PrisonPlanet.com. All rights reserved.