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Gold hits record high $1,180 per ounce

Posted By admin On November 25, 2009 @ 5:09 am In Money Watch | Comments Disabled

AFP [1]
Wednesday, Nov 25th, 2009

Gold prices soared to a record above 1,180 dollars here on Wednesday on the back of weak greenback, which makes the precious metal cheaper for buyers using stronger currencies, traders said.

Gold hit 1,180.20 dollars an ounce shortly after 0700 GMT in trading on the London Bullion Market, after striking a series of historic peaks in recent days and weeks.

“If the dollar goes down then the price of gold will automatically rise,” said BGC Partners analyst Howard Wheeldon.

“Moreover, if the dollar is perceived by bullion markets as likely to continue falling then one can assume that the price of gold will rise in proportion,” he added.

Full article here [1]

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Gold hits record high $1,180 per ounce  FOTR 340x1692 [2]

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URLs in this post:

[1] AFP: http://www.google.com/hostednews/afp/article/ALeqM5ispmbwHiEs3bbLYJN3zMr3CBgkoQ

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

[3] Gold hits record high past $1,160 per ounce: http://www.prisonplanet.com/gold-hits-record-high-past-1160-per-ounce.html

[4] Gold hits new record above £1,265 an ounce: http://www.prisonplanet.com/gold-hits-new-record-above-1265-an-ounce.html

[5] Gold hits record high: http://www.prisonplanet.com/gold-hits-record-high.html

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

[7] Gold rockets to record high above 1,150 dollars: http://www.prisonplanet.com/gold-rockets-to-record-high-above-1150-dollars.html

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