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  • Dollar's Drop And Oil Fears Cause Gold Rush

    09/25/2003 7:25:46 PM PDT · by blam · 4 replies · 222+ views
    The Guardian (UK) ^ | 9-26-2003 | Larry Elliott
    Dollar's drop and oil fears cause gold rush Bullion price hits seven year high Larry Elliott Friday September 26, 2003 The Guardian (UK) Fears of a prolonged slump in the value of the dollar sent gold prices to their highest level in seven years yesterday as investors sought a haven from the turbulence of the foreign exchanges. The price of gold rose by $5 to just over $390 an ounce in London trading amid speculation that the $400 barrier could be breached in the coming weeks. With the financial markets unsettled by the sharp drop in the dollar and by...