Gold zooms to 28-year high on weak dollar, US home sale
Sunday, 30 September 2007
LONDON, Sep 29 (PTI): Gold prices spurted to a near 28- year high in London Friday on frantic buying by dealers as dollar weakened against currencies including the euro and Indian rupee, raising demand for the precious metal as a safer investment option.
The gold opened here nearly 6 dollar higher at 740 dollar an ounce, a level never seen since January 1980. Later in the day, it rose further to 743 dollar an ounce. In the US, the yellow metal in the US opened at 751.30 dollars in futures trading for December delivery.
The gold opened here nearly 6 dollar higher at 740 dollar an ounce, a level never seen since January 1980. Later in the day, it rose further to 743 dollar an ounce. In the US, the yellow metal in the US opened at 751.30 dollars in futures trading for December delivery.