Gold Sets 16-Year Highs on Weak Dollar
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Gold hit fresh 16-year highs on Monday  as the dollar fell to an all-time low against the euro but it  lost ground when the U.S. currency partly recovered.
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Gold shrugged off a tumbling U.S. dollar and fell more than 1 percent on Monday as investors cashed in on the metal's rally to a near three-decade high last week.
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U.S. gold futures rose to a 28-year high in screen trade on Tuesday, after the Federal Reserve slashed the benchmark interest rate by a half-percentage point in a bid to boost the economy.
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Gold on Monday hovered below a 28-year high marked last week, supported by safe-haven buying after a sell-off in global stock markets, while Tokyo gold futures sold on a rally in the yen versus the dollar.
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Gold punched right through $640 on Thursday afternoon to a 16-week high as the dollar fell further against major currencies, attracting fund buying.
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Gold and platinum prices struck fresh record highs on Friday as investors rushed once more to invest in commodities amid a recovery on global stock markets, analysts said.
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The price of gold has set another record high, reaching $923, on supply fears and inflation risks.
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Spot gold hit a record high at $855.10 an ounce on Wednesday in buying fuelled by a struggling dollar, surging oil and simmering geo-political tensions, traders said.
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Gold hit a record high above $900 an ounce on Monday as turmoil in financial markets, expectations of aggressive U.S. rate cuts and a falling dollar helped raise the metal's safe-haven appeal.
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Platinum, used in jewellery and auto  catalysts, jumped to another record high above $2,000 an ounce  on Monday, on lingering power supply which disrupted mining in  main producer South Africa.
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Gold hit a 28-year high in Europe on  Friday as the dollar&#39;s continued slide to record lows versus  the euro raised the metal&#39;s appeal to speculative investors.
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With the dollar hitting a third straight day of record lows against the euro, gold rose above $450 an ounce for the first time in more than 16 years.
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The price of gold rose to a 16-year  high above $455 an ounce on Wednesday as investors piled into  the hard asset amid widespread worries about the dropping U.S.  dollar.
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Gold hit a 28-year high in Europe on Friday as the dollar's continued slide to record lows versus the euro raised the metal's appeal to speculative investors.
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Gold hit another record high above  $898 an ounce on Monday on speculative buying as uncertainties  in financial markets and expectations of aggressive U.S. rate  cuts raised the metal's safe-haven appeal.
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The dollar fell back toward a record  low against the euro on Thursday as traders bet officials would  not act to stop its slide, sending gold to a fresh 16-year  peak, while tech stocks drove key indices to multi-year highs.
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Gold swept to a record high on Wednesday above the key $850-an-ounce mark, driven by surging oil, a weaker dollar and simmering geopolitical tensions that polished its safe-haven credentials.