9
September
Gold Jumps to 18-Month High on Weaker Dollar, Inflation Outlook
9 September 2009 Bloomberg.com
Gold rose to the highest price since March 2008, topping $1,000 an ounce, while silver climbed to a 13-month high as a weaker dollar and concern that inflation may accelerate boosted the appeal of precious metals.
Bullion surged as high as $1,009.70 in New York, within 3 percent of the record of $1,033.90 set in March 2008. The metal is headed for a ninth annual gain. Crude oil and all six industrial metals on the London Metal Exchange rallied as the U.S. Dollar Index fell as much as 1.2 percent to an 11-month low. Raw materials typically rise when the greenback falls. Equity indexes climbed from Tokyo to London and New York.
http://www.bloomberg.com/apps/news?pid=20601012&sid=aHYRs8sJ3kfU
