SPDR Gold Trust GLD

Gold jumps above $1,000 level on weak dollar

September 11, 2009 - 2:11am | Markets | News

On Friday gold rose above $1,000 level again on the heels of further weakening dollar as markets are sized with inflation fears on the score of strong oil prices.

On Tuesday gold achieved $1,000 an ounce for the first time since February, with spot gold staging a stunning run to an 18-month high of $1,007.45 on the same day, on technical buying momentum and a slide in the dollar.

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Gold fluctuates just above $990 with investors focused on dollar

September 10, 2009 - 1:22am | Markets | News

On Thursday gold increased a little after it failed from $1,000 level as investors turned their focus on dollar. The further weakening of the greenback is said to benefit the precious metal.

Gold had topped the psychologically important $1,000 level for a second straight session on Wednesday before retreating to a low of $986.95.

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Gold above $1,000 level on Wednesday

September 9, 2009 - 6:07am | Markets | News

On Wednesday gold increased hovering just above $1,000 per ounce but below highs marked the previous day, as investors sold the dollar to buy riskier assets such as stocks and commodities.

Gold rose over $1,000 per ounce on Tuesday on pent-up technical momentum and dollar weakness, but market watchers were mixed on whether the yellow metal could stay above that level.

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Gold almost unchanged, trading around $950

June 9, 2009 - 4:20am | Markets | News

According to the market data on Tuesday gold was mostly flat trading at nearly $950 as the dollar took a break from its rally, improving the precious metal's appeal as a currency hedge. Bullion neared $1,000 per ounce last week, a key level it last topped in February, as worries about inflation and a weaker U.S. currency increased gold's attraction as an alternative investment.

bullion | currency rate | exchange-traded fund | gold | SPDR Gold Trust GLD

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Gold near $975 as traders were cautious about US employment report

June 5, 2009 - 6:33am | Markets | News

On Friday gold was softer near $975 as traders became concerned about the possible data on employment. As it was reported on Thursday gold rose around 2% after Goldman Sachs raised its forecast for oil prices at the end of 2009 to $85 a barrel from $65, triggering inflation-hedge buying of gold.

"I think there's a sense of caution in the market as gold nears the $1,000 mark," said Shuji Sugata, a manager at Mitsubishi Corp Futures & Securities in Tokyo.

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