Gold hits record high as dollar slumps
Gold futures hit a new record high at $1,038 an ounce, lifted by
weakness in the dollar fueled by higher interest rates in Australia as
well as a U.K. media report that Gulf-area oil producers, along with
China, Russia, Japan and France, are planning to eventually end
dollar-based oil pricing.
GOLD FLOATS ON OIL
Gold markets are frothing at renewed talk of dropping the dollar in
favor of a yet-to-be-developed basket of currencies for pricing the
world's most important commodity -- oil. But there are wider messages
to be conveyed by the action in the metals pits.
POTENTIAL END OF DOLLAR-BASED OIL DEALS LIFTS GOLD
Growing speculation over the potential end to dollar-based trading in
the oil market may be part of the reason gold prices have rallied
beyond $1,020 an ounce to stand near their highest level in 18 months.
DOLLAR DOWN DESPITE DENIALS OF OIL-PRICING SHIFT
Dollar tumbles on reports of oil-pricing shift.
OIL PRICES GAIN AS U.S. DOLLAR TUMBLES
Oil futures rise above $71 a barrel as the dollar falls against major
currencies, luring buyers into the energy market.
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