16
November
Gold Advances to Record as Investors Seek Dollar 'Insurance'
16 November 2009 Bloomberg.com
Gold prices jumped to a record for the fourth time in six sessions as investors purchased the precious metal as an alternative to a slumping dollar.
The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, fell as much as 0.6 percent today, extending this year’s losses to 7.8 percent. Before today, gold jumped 26 percent in 2009 as the lowest interest rates ever, coupled with increased government spending, sent the dollar to a 15-month low on Nov. 11.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aRAMOumh_zpc
