Gold hits two-week high on weaker dollar

1 November 2010  Reuters

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 Gold jumped to a two-week high on Monday as investors expected more declines in the dollar ahead of a U.S. Federal Reserve's policy meeting to shore up the economy, while silver and palladium hit multi-year peaks.

Chart-based buying also picked up after bullion surpassed a key resistance of $1,350 an ounce on Friday, lifting silver to its highest since early 1980 and palladium to a 9-year high. Gold hit a record of around $1,387 in mid-October.

http://www.reuters.com/article/idUSTRE67F05920101101