Capital Gold Group Report: US gold rises above $1,010 on dollar deterioration

By J. Ryman on September 11, 2009 9:54 AM | Permalink

Fri Sep 11, 2009 10:36am EDT



 


















 NEW YORK, Sept 11 (Reuters) - U.S. gold futures broke above
$1,010 an ounce on Friday, reaching their highest level since
February, as a steadily weakening dollar increased the status
of bullion as an alternative investment.

 GOLD

 * December gold up $13.80, or 1.4 percent, at
$1,010.60 an ounce at 10:26 a.m. EDT (1426 GMT) on the COMEX
division of the New York Mercantile Exchange.

 * Ranged from $996.30 to $1,013.70, which marked the
highest level since Feb. 20.

 * The U.S. dollar fell to a one-year low against major
currencies as optimism about the outlook for the global economy
encouraged investors to favor higher yielding currencies and
stocks instead of the safety of the greenback. [USD/]

 * Gold continues its steady upward move, helped by
technical buying, stronger euro and crude oil rally - George
Gero, vice president of RBC Capital Markets Global Futures.

* COMEX gold open interest continues to expand, signaling
strong investment demand from funds - Gero.

Capital Gold Group, gold group, gold, gold prices, gold news, gold coins, gold bullion, gold IRA, IRA
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This page contains a single entry by J. Ryman published on September 11, 2009 9:54 AM.

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Capital Gold Group Report: US gold rises above $1,010 on dollar deterioration

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