On rising investment demand, gold rallies to new record high
12/01/09 14:06
The weakening of the United States dollar was surely the prime driver of the recent rally in the price of gold. This is according to analysts at Nomura International, in a note that was written to clients.
A very strong inverse relationship exists between the U.S. dollar and gold prices, surely. As, when the dollar had fallen, the price of gold had arisen.
On Tuesday, Gold's Wednesday highs had actually topped the record hit. This was when the dollar had slumped on a report that was suggesting the end of oil trading, based on the dollar.
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20091201-125618-On-rising-investment-demand-gold-rallies-to-new-record-high investment demand 'On rising investment demand, gold rallies to new record high'