Gold at new high as dollar slides, stocks gain By Jeremy Gaunt, European Investment Correspondent
Nov 23, 2009 Make Money Online
Gold powered to another record high on Monday as expectations that U.S. interest rates will remain low weighed on the dollar, while higher commodity prices lifted world equities.
MSCI’s all-country world stock index .MIWD00000PUS was up 0.9 percent, led by European and emerging market shares that are sensitive to commodities.
Gold hit a record high at $1,167.45 an ounce before slipping back a bit, bringing this year’s gains to around 32 percent.
The main catalyst for gold’s rise has been the falling dollar, which makes the metal more attractive to non-dollar investors and encourages others to hedge.
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