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Gold hits record high $1,180 per ounce
AFP
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.
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INFOWARS:
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