Capital Gold Group Report: US gold above $1,100/oz; new record on dollar drop
Mon Nov 9, 2009 4:12pm GMT
NEW YORK, Nov 9 (Reuters) - U.S. gold futures rose to a
record high $1,111.70 an ounce Monday as the dollar tumbled on
expectations of continued ample money supply and low U.S.
interest rates after a weekend Group of 20 meeting.
For the latest detailed report, click on [GOL/].
GOLD
* COMEX December gold GCZ9 up $10.30 at $1,106.70 an
ounce at 10:31 a.m. EST (1531 GMT).
* Range spanned $1,096 to all-time high $1,111.70
* Gold up with equities, oil and other commodities as the
dollar index fell 1 percent against major currencies after a
weekend G20 meeting. [USD/]
* Currency and inflation worries boost gold due to monetary
easing and fiscal spending expectations after G20 - Nicholas
Brooks, head of research and investment strategy at ETF
Securities.
* Gold on its own for now but could correct at some point
if the dollar rebounds - Heraeus.
* China should not buy gold from the IMF and should wait
for the price to drop - ex official. [ID:nPEK352010]
* Gold-to-oil ratio down at 13.97 against 14.15 -- a late
quote from the previous session.
* COMEX estimated 9 a.m. volume at 65,241 lots.
* Spot gold XAU= at $1,105.45 an ounce, up from $1,096.30
late in the previous session in New York.
* London's afternoon gold fix XAUFIX= $1,106.75 an
ounce.Capital Gold Group, gold group, gold, gold prices, gold news, gold coins, gold bullion, gold IRA, IRA
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