Monday, January 14, 2008

gold hits new record of over $910

gold hits new record of over $910from press tv: The depreciating US dollar and investment fueled by economic doubts has pushed gold prices to new high records of over $910 per ounce.

The precious metal surged to a record $914.10 per ounce on Monday morning, reported CNN Money.

Meanwhile, gold hiked in line with crude oil price and its appreciation increased as a hedge against inflation.

The metal has turned into the 'third reservable (asset) currency in the world, following the US dollar and the euro,' said the editor of a daily trading note, Dennis Gartman.

Investors are keen to buy gold as a store of value or as an asset that can be cashed in times of trouble to cover losses.
labels: , ,

No comments:

Post a Comment

fair use notice: this site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. we are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, & social justice issues, etc. we believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US copyright law. In accordance with title 17 usc section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.