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Gold rises 4 pct as dollar weakens, commods rally

Posted on 11 November 2008

From Guardian: Gold rose more than 4 percent on Monday as dollar weakness and sharp gains across commodities sharpened appetite for the precious metal, but retreated from highs as the dollar recovered some lost ground against the euro.

A near $600 billion economic stimulus package announced by China on Sunday helped allay risk aversion and fuelled gains in equities as well as oil and base metals, carrying gold higher. Spot gold hit a peak of $767.80 an ounce, before easing back to $751.10/753.10 by 1552 GMT, against $735.95 late in New York on Friday….. Full Article: Source


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