«Safe Haven» Became More Safer

Gold touched an all time peak yesterday, on dollar decline and Thanksgiving holiday in the U.S., closing at to $452 a troy ounce, the highest price since 1986, as the dollar has slumped to a new low against the euro.

With two CBI reports today expressing concern about the stalling of the economic revival in the UK due to rising oil prices hitting manufacturing, the continuing dollar weakness will only worsen the plight of exporters in Britain and the rest of Europe.