6
October
Potential end of dollar-based oil deals helps gold shine
6 October 2009 MarketWatch
Growing speculation over the potential end to dollar-based trading in the oil market may be part of the reason gold prices have rallied beyond $1,020 an ounce to stand near their highest level in 18 months.
And the strength was kept even as several top officials, including Saudi central bank chief Muhammad al-Jasser, denied the report.
Gulf Arab states, along with China, Russia, Japan and France, are planning to put an end to dollar-based trading in the oil market, according to an exclusive report published Tuesday in the U.K. by The Independent.
http://www.marketwatch.com/story/potential-end-of-dollar-based-oil-deals-lifts-gold-2009-10-06
