Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Leading human rights activist shot in Burundi's capital

Read more

MEDIAWATCH

Migrant Crisis: The Blame Game

Read more

THE DEBATE

Kerry Middle East Tour

Read more

BUSINESS DAILY

Greek shares plunge as trading resumes in Athens

Read more

IN THE PAPERS

'Gulf countries need proof and guarantees'

Read more

IN THE PAPERS

'The deadly French-English border'

Read more

EYE ON AFRICA

Experimental Ebola vaccine could stop virus in West Africa

Read more

MEDIAWATCH

#CecilTheLion : Hunter Becomes The Hunted

Read more

THE WORLD THIS WEEK

Erdogan’s gamble: Turkey launches offensives on PKK and Islamic State Group (part 2)

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)