Gold strikes another record on falling U.S. dollar

Mon Nov 9, 2009 4:13am GMT
 
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 SINGAPORE, Nov 9 (Reuters) - Gold powered to another record
on Monday as the falling U.S. dollar and bleak macroeconomic
data spurred buying from investors seeking a safe haven.
 Cash gold XAU= hit a high of $1,103.05 an ounce,
surpassing Friday's lifetime high of $1,100.90, with U.S.
December gold futures GCZ9 rising as high as $1,103.7 an
ounce, to another lifetime high.
 Gold has gained more than 25 percent in 2009, driven by
persistent weakness in the U.S. currency, and recently by the
failure of a meeting of financial officials of the Group of 20
nations to discuss the dollar's decline more specifically.
[ID:nLQ516726].
 (Reporting by Lewa Pardomuan; Editing by Clarence Fernandez)

 

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