Gold Hits 28-Year High as Dollar Touches Record Lows
Source: Reuters (9/21/07)
Gold hit a 28-year high on Friday as the dollar's continued slide to record lows versus the euro raised the metal's appeal to speculative investors.
Other precious metals also advanced, with silver rising to its highest in more than three months, platinum hitting its highest since early May and palladium touching a five-week peak.
Spot gold rose as high as $739 an ounce, its highest since January 1980, also helped by technical buying and short-covering. It was quoted at $735.60/736.40 by 1010 GMT, up from $734.20/735.00 in New York late on Thursday.