Gold climbed to highs above $ 1115 an ounce on Wednesday as the dollar dropped to lows of 15 months, and hopes of a global economic recovery, coupled with gains in equity markets, underpinning the attraction of foreign more risky.
Gold is aimed at achieving further progress, analysts said, with the weak dollar helping the metal extending a rally that began last week after the IMF sold 200 tonnes of bullion to India's central bank, reinforcing the prospects for more official purchases in the sector.
Spot gold hit a high of $ 1117.05 an ounce and was operated at $ 1115.30 at 0956 GMT versus $ 1105.30 at the close on Tuesday in the U.S..
Gold futures for December delivery on the COMEX division of the New York Mercantile Exchange climbed $ 13.30 to $ 1115.80.
"The way that gold continues to rise from its previous highs is pretty incredible," said Ole Hansen, manager of Saxo Bank. "The continued momentum is driving prices higher. Whenever we see new highs, we see more impulse buyer," he added.
The dollar index fell to a minimum of 15 months and 74.831 euro gained to their highest level in two weeks close to the maximum of 2009 last week from just over $ 1.5060.
The weakness of the dollar underpins gold's appeal as an alternative asset, and makes dollar-traded commodities are cheaper for holders of other currencies.
Among other precious metals, spot silver was operating at $ 17.53 an ounce against $ 17.32, following the progress of the gold, while platinum climbed $ 1364 from $ 1349.50 an ounce and palladium rose to $ 335 versus $ 331.50.
No hay comentarios:
Publicar un comentario