Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

President Robert Mugabe emerges from house arrest

Read more

MEDIAWATCH

Harassment and hypocrisy in Washington

Read more

THE WORLD THIS WEEK

Military pressures Robert Mugabe to step down, Macron mediates Lebanon crisis

Read more

FRANCE IN FOCUS

France raises a glass to tourism

Read more

FOCUS

France's newest political party accused of 'old' methods

Read more

#THE 51%

Hear me roar: The growing economic power of older women

Read more

#TECH 24

The future of surgery

Read more

DOWN TO EARTH

The tiny parasite threatening your salmon sushi

Read more

ENCORE!

Director Joachim Trier: True horror is a 'lack of self-acceptance'

Read more

Business

Gold hits another record high as dollar struggles

Text by NEWS WIRES

Latest update : 2009-10-08

The price of gold hit a fresh record at 1,048.43 dollars an ounce, the highest level in history. Traders said gold's rise was a result of the struggling dollar.

AFP - The price of gold hit a fresh record high point here on Wednesday as the faltering dollar made the precious metal more attractive to investors holding stronger currencies.
   
In early morning trading on the London Bullion Market, gold struck 1,048.43 dollars an ounce, which was the highest level in history.
   
The glamorous metal, used in jewellery, dentistry and electronics, has surged higher on the back of the sliding US dollar, traders said.
   
The dollar had fallen sharply on Tuesday, hit by an Australian interest rate rise and a British media report that Gulf states were planning to stop using the US unit for oil transactions, traders said.
   
As a result, gold prices have since been catapulted to a series of record high levels.

Date created : 2009-10-08

COMMENT(S)