23 November 2009

Gold hits New Record High

The price of an ounce of gold exceeded $1,167 this morning, as investors headed to the metal on the back of the low US dollar. The dollar is still suffering as speculation that the US central interest rate will remain low continues.

Also added to the continuing climb of gold is the fact that nations like China are increasing their non-dollar reserves. Gold is one of the most popular assets to Asian nations and their demand - along with other emerging nations - is keeping gold on its upward trend.

This morning's price was a new record and many analysts expect the price of an ounce to exceed $1,200 before the year is out.

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