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Gold hits new record high  Comments
November 24, 2009

By Ethel Hazelhurst


Gold continued its strong run yesterday to hit yet another record high of $1 170.25 (R8 744) an ounce at the London afternoon fix, from just more than $990 in June. Johan Pyper, the head of research at Plexus Asset Management, said yesterday's gains followed a 3 percent rise in the price at the weekend and 2 percent last week. Matthew Turner, a senior commodity analyst at London-based VM Group, said the recent move was not just "a dollar story". He pointed out the dollar index - a measure of the dollar against six leading currencies - stood at 75.08 yesterday morning with gold at $1 167. But the index was lower at 74.92 on October 21 when gold was only $1061.75. Turner suggested the recent popularity of gold reflected "a fear of all currencies". - Ethel Hazelhurst
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Showing page 1 of 1 comment pages, 1 total comments
11 Weeks ago  wrote :
this not only Affect the economy itself, but health aspects..regarding the demand of gold based drugs in medicine, and other precious metals.
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