USD 63.8487

0

EUR 70.5975

0

BRENT 64.34

-0.29

AI-92 42.31

-0.01

AI-95 45.95

-0.04

AI-98 51.59

-0.04

Diesel 45.97

-0.08

21

Gold At Highest Since 1980!

Gold rose to a 27-year high in London as the dollar slumped to a record low against the euro and oil traded at an all-time high, boosting bullion's appeal as a hedge

Gold rose to a 27-year high in London as oil traded at an all-time high of $92 per barrel and the dollar slumped to a record low.

Some investors view dollar-denominated gold as a hedge against further declines in the currency and inflation when energy prices surge.

Gold futures for immediate delivery rose as much as $9.20 to $778.50 an ounce, the highest since January 1980.

It traded at $776.78 an ounce as of 9:11 a.m. local time. The precious metal reached a record $850 an ounce in January 1980.


The dollar fell against the euro on speculation a slowing U.S. economy and finance industry losses will prompt the Federal Reserve to lower interest rates on Oct. 31.