Gold hits another record!
LONDON, England - November 23, 2009 - Gold prices extended gains in Europe on Monday to hit record highs at $1,170.55 an ounce as the dollar slipped further, boosting interest in the precious metal as an alternative asset.
The dollar fell broadly on Monday, slipping nearly 1% against a basket of six major currencies, after dovish comments from a U.S. Federal Reserve official reinforced the view that U.S. interest rates will stay low for an extended period.
Spot gold was bid at $1,170.45 an ounce at 12:13 p.m., up nearly 2% from $1,148.20 late in New York on Friday.
The dollar fell broadly on Monday, slipping nearly 1% against a basket of six major currencies, after dovish comments from a U.S. Federal Reserve official reinforced the view that U.S. interest rates will stay low for an extended period.
Spot gold was bid at $1,170.45 an ounce at 12:13 p.m., up nearly 2% from $1,148.20 late in New York on Friday.
