27
November
Gold falls, downside limited on weak dollar outlook
27 November 2009 Reuters
Gold prices tumbled nearly 5 percent to a one-week low below $1,140 an ounce on Friday as investors fearing debt default in Dubai sought safety in dollars and cash.
Other precious metals also slipped. Silver hit a two-week low of $17.66 an ounce, while platinum and palladium touched one-week lows of $1,418.50 and $351 an ounce respectively.
Spot gold briefly hit a low of $1,136.80 a troy ounce, the lowest since November 16 and was bid at $1,161.55 an ounce at 1045 GMT from $1,192.60 on Thursday, when the precious metal hit $1,194.90 -- a record high.
http://www.reuters.com/article/globalMarketsNews/idUSTRE5A80MQ20091127
