Gold News

Gold goes up in face of weaker dollar

The weak dollar caused gold prices to rise again on Thursday, reaching their highest level since June 9th and sneaking slowly back towards their all-time high of $1,030.80 in March.

The dollar slipped against both the euro and the yen this week, making gold, which is priced in dollars, cheaper for holders of these currencies.

Inflationary pressures in the US and across the Atlantic are also prompting investors to turn to gold, as the metal is seen as a save haven during times of rising prices.

Continued investment in gold is causing prices to rise and the precious metal hit £895 an ounce on Thursday, up from $891 an ounce on Wednesday.

"The dollar is a supportive factor for gold," Suki Cooper, an analyst at Barclays Capital, told Reuters. "Inflation concerns are still prominent, there will be some safe-haven buying."

Simon Weeks, director of precious metals trading at Scotia Capital, also told the news provider that he thought gold was beginning to "find its feet" and that sentiment among those investing in gold is "good".

To Buy Gold today, avoiding wide spreads and storage costs – but still owning your physical Gold Bullion Investment outright with full legal title – be sure to visit BullionVault and claim a free gram of gold now...


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals