14
October
Gold shines but base metals are tarnished
14 October 2009 The Financial Times
Gold prices reached a fresh all-time high yesterday but oil prices were choppy and base metals retreated as US dollar volatility limited momentum for commodity markets.
Gold hit $1,068.30 a troy ounce, a record, pushing past the previous peak of $1,061.20 reached last Thursday as bullion's record-breaking run showed little sign of exhaustion. Gold later eased back to $1,064, up 0.8 per cent on the day.
Andrey Kryuchenkov, analyst at VTB Capital, said although he was "sceptical" about the long-run sustainability of the rally, speculators could still drive gold higher looking for protection against the possibility of a collapse in the dollar.
http://www.ft.com/cms/s/0/0b0ad3b6-b859-11de-8ca9-00144feab49a.html
