Oil, mineral, exploration
Gold hits record high above $1,123
Thursday, 12 November 2009 10:51The price of gold surged to an all-time high point above $1,123 an ounce this morning, as trade was driven by buoyant stock markets and the weak US currency.
On the London Bullion Market, gold jumped as high as $1,123.38 an ounce.
Gold has blazed a record-breaking trail in recent weeks partly due to the struggling US currency, which makes the dollar-priced precious metal cheaper for buyers holding stronger currencies, and therefore tends to boost demand.
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Gold has also been lifted by big purchases of gold by emerging countries such as India.
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