15
October
Gold steady above $1,060 on dollar, oil
15 October 2009 Reuters
Gold was steady above $1,060 per ounce on Thursday as the dollar's weakness and oil's strength maintained the precious metal's appeal.
Gold rose to new peaks above $1,070 per ounce on Wednesday as the greenback continued to slide against a basket of six currencies, although there were worries that the metal may have become overbought.
"There doesn't seem to be any particular reason at this present juncture to be selling gold given that the dollar is continuing to weaken," said Darren Heathcote, head of trading at Investec Australia.
On Thursday, the dollar fell to its lowest in 14 months against the euro and against a basket of six currencies.
http://www.reuters.com/article/goldMktRpt/idUST7682720091015
