As the dollar dies, gold prices rise

October 8, 2009

From the Financial Times:

Investors cling to gold as prices surge

Gold prices continued to surge on Wednesday, hitting a fresh record close to $1,050 a troy ounce as investors bet that trading momentum would push the precious metal still higher.

Barclays Capital said gold prices, which have risen 10.3 per cent since the end of August, could run to as high as $1,500 an ounce if previous technical trading patterns were extrapolated.

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