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AFP
Published
Oct 13, 2009
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Gold hits record high close to 1,064 dollars

By
AFP
Published
Oct 13, 2009

LONDON, Oct 13, 2009 (AFP) - The price of gold forged a record high close to 1,064 dollars an ounce here on Tuesday 13 October as the dollar sank against the euro.


Photo: AFP

In morning trade on the London Bullion Market, gold struck 1,063.95 dollars an ounce, the highest level ever recorded.

Gold's latest pinnacle was recorded as the European single currency climbed above 1.48 dollars in foreign exchange trade on Tuesday (13 October) morning.

A struggling greenback makes the precious metal cheaper for investors holding other currencies, thereby boosting demand, analysts said.

Gold, used in jewellery, dentistry and electronics, has struck a series of all-time highs in recent weeks owing to the weak dollar.

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