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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

US rate move sparks gold’s surge to $870

Posted on 18 December 2008

From FT: Gold prices surged yesterday as the dollar fell sharply in response to the Federal Reserve’s decision on Tuesday to cut the main US policy interest rate to a historic low in a range between zero and 0.25 per cent.

Gold rose 1.6 per cent to $870 a troy ounce, moving between a low of $848.50 and a peak of $881.20, the highest level since October 10 when bullion touched $931….. Full Article: Source


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