e-magazine
The Hot Zone
China's newly announced air defense identification zone over the East China Sea aims to shore up national security
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Expert's View
World
Nation
Business
Finance
Market Watch
Legal-Ease
North American Report
Forum
Government Documents
Expat's Eye
Health
Science/Technology
Lifestyle
Books
Movies
Backgrounders
Special
Photo Gallery
Blogs
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Web-magazine
Reader's Letters
Make Beijing Review your homepage
Hot Links

cheap eyeglasses
Market Avenue
eBeijing

Latest
Special> Coping With the Global Financial Crisis> Latest
UPDATED: November 6, 2009
Gold Heads for 1,100 Dollars, Extending All-time High on Weak Greenback
Gold futures on the COMEX Division of the New York Mercantile Exchange headed for 1,100 U.S. dollars
Share

Gold futures on the COMEX Division of the New York Mercantile Exchange headed for 1,100 U.S. dollars on Wednesday, setting a new record high as dollar weakened. Silver and platinum both rose.

The most active gold contract for December delivery gained 2.40 dollars, or 0.2 percent, to finish at 1,087.30 dollars an ounce, but it rallied to a new record high of 1098.50 during the electronic session after the contract closed in pit trading.

A weaker dollar was considered the main factor which fueled the yellow metal to a new peak. By the end of gold floor trading time, the dollar index, a gauge measuring the greenback's value against a basket of major currencies, dropped 0.455 to 76.015, raising gold's demand of hedge and haven.

Tuesday's news that India's central bank bought 200 tons of gold from the International Monetary Fund made investors more optimistic about gold's demand, helping the precious metal's rally.

On Wednesday afternoon, the Federal Reserve kept its benchmark interest rate unchanged at a record low of near zero, weighing much on the dollar and providing additional support in gold's after-hours trading.

December silver was up 22.5 cents to 17.405 dollars per ounce. January platinum rose 13.10 dollars to 1369.30 dollars an ounce.

(Xinhua News Agency November 5, 2009)



 
Top Story
-Protecting Ocean Rights
-Partners in Defense
-Fighting HIV+'s Stigma
-HIV: Privacy VS. Protection
-Setting the Tone
Most Popular
 
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved