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  • Gold Tops $1,018 on Continued Weak Dollar

    09/16/2009 7:08:26 AM PDT · by TigerLikesRooster · 33 replies · 1,511+ views
    The Street ^ | 09/16/09 | Joseph Woelfel
    Gold Tops $1,018 on Continued Weak Dollar NEW YORK (TheStreet) -- Gold for December delivery was trading at $1,018.30 Wednesday after trading as high as $1,023.30 an ounce during the session on the back of the dollar's recent weakness. The contract closed Tuesday above $1,000 for the third straight day, adding $5.20 to settle at $1,006.30 an ounce on the New York Mercantile Exchange. Gold has been rallying in recent days as the dollar falls against other major currencies. Gold is used as a hedge against a weak dollar and inflation. Last week marked the first time a front-month contract...