Gold futures on the Comex division of the New York Mercantile Exchange jumped again Thursday
Gold futures on the Comex division of the New York Mercantile Exchange jumped again Thursday, after the U.S. dollar weakened again, and investors? interest.
The most-active December contract (100 oz each) settled $5.40 higher at $430.80 per ounce.
The U.S. currency dropped to nine-year lows on the U.S. Dollar Index as selling pressure resumed now that the 2004 presidential election is finished.
Other four years of Bush;s leadership directed investors and speculators towards dollar alternatives and safe havens such as gold, and helped spot prices pop to $433.25 an ounce, their highest level since
Spot gold eased back to the $429.50-$430 area by the end of the New York trading day, but is expected to make further upward probes over the near term should the U.S. currency remain on the defensive.