Thursday, Mar 13, 2008
It's Here.. Not really unexpected.
Bloomberg: Gold Trades at $1,000 an Ounce in New York on Demand for Haven
Gold traded at $1,000 an ounce in New York and rose to a record in London on speculation credit- market turmoil will spur demand for the metal as a haven from declines in stocks and the dollar.
Silver, platinum and palladium also advanced as the dollar fell below 100 yen for the first time since 1995 and to a record low against the euro after a Carlyle Group fund moved closer to collapse. Gold climbed 19 percent this year as the dollar fell and world equity markets declined.
Posted by stevie dee @ 01:24 PM (166 views) Add Comment
1 Comment
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1. harold said...
Given the fundamentals driving this market - not unexpected at all.