Tuesday, September 8, 2009

Gold Advances to $1,000 on Dollar’s Weakness, Inflation Hedge

Gold futures climbed to $1,000 an ounce for the first time in more than six months as a weaker dollar and concern that inflation may accelerate boosted the precious metal’s appeal.The contract for December delivery touched exactly $1,000 on the Comex division of the New York Mercantile Exchange, taking this year’s rise to 13 percent. Immediate-delivery metal rose to $998.25 an ounce. Gold is set for a ninth yearly gain.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aAgAWSs_xezk

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