Wednesday, Nov 4th, 2009
Spot gold ran to a record high above $1,090 per ounce on Wednesday, latching on to a weaker dollar with continued support from the IMF’s sale of gold to India’s central bank.
The dollar index declined 0.34 percent as investors awaited a Fed statement later on Wednesday.
Spot gold hit a record high of $1,092.60 an ounce and was bid at $1,091.05 an ounce at 0915 GMT, compared with $1,084.50 late in New York on Tuesday.
U.S. COMEX gold futures also hit an historic $1,093.70 in electronic trade, and were later up $7.40 at $1,092.40.
“When the people find they can vote themselves money, that will herald the end of the republic.” – Fall Of The Republic – Buy the DVD here
This article was posted: Wednesday, November 4, 2009 at 4:53 am