18 June 2010

Gold To Hit New High?

Gold hit a new record high on Thursday, reaching well over $1,245 an ounce on the New York Mercantile Exchange. As investors headed away from the US dollar amid poor US economic data, gold became even more popular as a safe asset.

The euro is also on an interesting week, heading for what could be its second straight week of gains. Earlier this month, the currency had slumped to four-year lows against the US dollar. Now, it has hit 3-week highs.

The euro was enjoying renewed interest among those investors seeking riskier assets. This was due in part to an auction of government bonds in Spain, which saw healthy demand.

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