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News Link • Precious Metals

Dollar falls, sending gold to record high

• AFP
The dollar fell on Monday as China accused the United States of increasing protectionism and following unexpectedly strong Japanese economic growth figures, pushing gold prices to a record high point.

US President Barack Obama is in China for a three-day mission aimed at convincing Beijing that Washington is its partner, not its rival.

As the dollar dropped against the euro and yen, gold struck an all-time peak of 1,133.20 dollars an ounce.

In late morning trading here, the euro climbed to 1.4969 dollars from 1.4918 dollars late in New York on Friday.

Against the Japanese currency, the dollar fell to 89.42 yen from 89.66 yen late on Friday.

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