USD 63.2257

-0.34

EUR 70.4271

-0.03

BRENT 64.48

0

AI-92 42.39

-0.01

AI-95 46.08

0

AI-98 51.07

0

Diesel 47.99

0

30

Gold Surges Above $900 Over Record Crude

Gold rose to its highest level in almost two weeks on Monday, moving back...

Gold rose to its highest level in almost two weeks on Monday, moving back above $900 as speculative buying picked up after oil hit a record high, lifting the metal's appeal as a hedge against inflation.

Gold rose as high as $904.10 an ounce, its highest level since May 28, up from $896.80/898.20 late in New York on Friday and off a three-week low of $864.45 on Thursday.

A weaker dollar helped gold as it boosted the metal's appeal as an alternative investment to stocks and bonds. The euro was barely changed at $1.5770 after edging up to $1.5800 on trading platform EBS.
Record high oil and uncertainties in the dollar outlook pushed up gold to a record high of $1,030.80 in mid-March.

Gold futures for June delivery on the COMEX division of the New York Mercantile Exchange added $5.1 an ounce to $904.1.
The physical sector was slow, with a market holiday in Hong Kong. In Southeast Asia, dealers noted buying from Indonesia, Thailand and Vietnam on inflation fears, but firmer prices also triggered selling.