Oil and the Dollar Push Gold Through the $1000 Dollar Mark

March 13, 2008 | By | Reply More

Gold for April delivery has now boiled over the  $1000 an ounce mark. So far this year the metal has put on circa 18% on top of over 30% for the whole of 2007.

 

New heights in oil and the steeply falling dollar have been the drivers to push gold through the $1000 barrier.

 

Add to this the assumption that the Fed will be lowering interest rates by at least 75 base points.

 

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