USD 65.9961

0

EUR 73.2227

0

BRENT 58.69

0

AI-92 42.19

-0.01

AI-95 45.96

-0.01

AI-98 51.73

0

Diesel 45.8

-0.01

20

Gold To Cost $1,000

... said Marc Faber, who advised investors to acquire the metal at the start of a six-year rally

Gold may rise to a record $1,000 an ounce next year as the dollar weakens and Asian central banks diversify their reserves, said Marc Faber, who advised investors to acquire the metal at the start of a six-year rally, Bloomber reported.

A "continued'' weakening of the U.S. currency may help gold to climb above its all-time high of $850 traded in January 1980, said Faber, managing director of Marc Faber Ltd. and publisher of the Gloom, Boom & Doom Report.

Gold for immediate delivery in London dropped $19.87, or 2.5 percent, to $792.08 an ounce as of 5:21 p.m. local time on the COMEX.