Gold hits record as Fed signal sinks dollar

Amanda Cooper and Jan Harvey
The Vancouver Sun
October 13, 2010

Gold surged to a record high at $1,367.65 an ounce on Wednesday and silver to a 30-year peak after the Federal Reserve signalled the U.S. economy may need extra stimulus, which hit the dollar.

Gold prices have rallied nearly 25 percent so far this year as investors turned to the metal as a haven from the effects of an increasingly loose monetary policy.
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Gold Gains Above $1,320

Reuters
October 1, 2010

Gold prices rallied to record highs above $1,320 an ounce on Friday as the dollar weakened further on soft U.S. manufacturing data, fueling interest in the precious metal as an alternative asset.

Spot gold [XAU=X 1317.3 12.05 (+0.92%) ] was last bid around $1,318, against $1,305.25 late in New York on Thursday.

U.S. gold futures [GCZ0 1318.3 8.7001 (+0.66%) ] for December delivery last rose toward $1,319 an ounce.
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