Sponsored by Digital Look Events

Gold hits $1,000 as dollar slide continues

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Thursday 13 Mar 2008

LONDON (ShareCast) - Gold prices rose past $1,000 an ounce for the first time as continued weakness in the dollar and stock market turmoil sent investors looking for alternatives.

Gold futures on the New York Mercantile Exchange (Nymex) touched a record $1001.50 an ounce, while silver, platinum and palladium also advanced.

The dollar fell to a record low against the euro and dropped below 100 yen for the first time since 1995.

Nymex Silver for May delivery rose 77 cents to $20.765 an ounce, not far of the $21.325 an ounce it reached on March 6, its highest level since 1980. Platinum for April delivery rose $35 to $2,105 an ounce, helped in part by continuing power problems in South Africa.