Gold Trends Above $1,100 As Dollar Falls

By: GoldCore

Gold has experienced yet another strong opening this morning and ventures deeper into unchartered territory. Currently trading at $1,109/oz - $14 higher than its closing last Friday - at this price gold sets a new all time high in USD terms. In EUR and GBP terms gold is trading at €739/oz and £658/oz respectively.

Gold's move higher is indicative of continuing and deep routed concerns over the future of the dollar as the world's reserve currency. World dollar holders from Asian Central Bankers to global pension fund managers are struggling to quantify a future without a stable reserve currency. Gold prices are an excellent measure of global macroeconomic risk. The ultimate cost of quantitative easing and building inflation pressures may well dampen any near term recovery projections.

Silver
Silver is currently trading at $17.72/oz, €11.82/oz and £10.71/oz.

Platinum Group Metals
Platinum is trading at $1,360/oz and rhodium at $2,025/oz. Palladium is currently trading at $333/oz.

This update can be found on the GoldCore blog here.

The Bullion Services Team

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

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