7
October
Oil, gold surge as dollar dominance questioned
7 October 2009 CNN
Gold surged to a record high Tuesday after a news report sparked widespread talk about the U.S. dollar being unseated as the currency for trading oil.
Crude finished slightly higher.
A report in Britain's daily newspaper The Independent said oil-exporting countries in the Middle East and big energy consumers such as China, Russia, Japan and France were working on a plan to end the practice of buying and selling crude in dollars.
Instead, the U.S. dollar would be replaced with a basket of currencies, including the Japanese yen, Chinese yuan, the euro and gold.
http://money.cnn.com/2009/10/06/markets/dollar_oil_gold/index.htm?section=money_latest
