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Struggling Dollar Pushes Gold to Another Record

Posted by Scott Boyd at 9:10 am EST, 11/10/2009

Gold touched an all-time high of $1,107.2 an ounce yesterday as investors abandon the struggling dollar. Growing demand in Asia and other emerging markets has also played a part in driving up prices in the last two weeks as governments diversify away from the US dollar in order to protect the value of their reserves.

BBC News

Filed under: Forex Round Up, USD, EUR, GBP, CHF, JPY, AUD, CAD

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February
9
Today’s Global
Market Events
10:00 am
USD
IBD/TIPP Economic Optimism
49.3 vs. 48.8
USD
Wholesale Inventories m/m
0.5% vs. 1.5%
6:30 pm
AUD
Westpac Consumer Sentiment
5.6%
6:50 pm
JPY
Core Machinery Orders m/m
8.1% vs. -11.3%
JPY
CGPI y/y
-2.3% vs. -3.9%
7:30 pm
AUD
Home Loans m/m
-4.7% vs. -5.6%
Tentative
AUD
NAB Business Confidence
8
10th-12th
AUD
NAB Quarterly Business Confidence
16
CNY
Trade Balance
20.2b vs. 18.4b