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Gold hits record high past $1,160 per ounce
AFP
Monday, Nov 23rd, 2009
The price of gold soared to a record close of
1,166.00-1,167.00 US dollars an ounce in Hong Kong on Monday
as dealers moved into the safe haven commodity due to the weak
greenback, analysts said.
It opened at 1,158.00-1,159.00 US dollars.
The precious metal was up from Friday's close of 1,145.00-1,146.00
dollars as stocks on Wall Street suffered a third straight loss
and as the US unit continues to struggle due to super-low interest
rates.
"We closed on the day's high Friday, so that prompted
more buying this morning," Anderson Cheung, director of
precious metals at Mitsui Bussan in Hong Kong, told Dow Jones
Newswires.
Full
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