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News Link • Precious Metals

Gold hits record above $1,167/oz as dollar slips

• Reuters
Gold hit a record high at $1,167.45 an ounce on Monday as dollar weakness pushed the metal through key technical resistance levels, fuelling momentum buying after the metal's sharp run higher earlier this month.

Spot gold was bid at $1,165.45 an ounce at 1002 GMT (5:02 a.m. EST), against $1,148.20 late in New York on Friday. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange rose $19.10 to $1,165.90 an ounce.

 

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