The yellow metal reached another all-time high today (November 6th), topping $1,100 per ounce for the first time ever as investors continued to shy away from the dollar.
Gold futures for December delivery rose $6.40, or 0.6 percent, to $1,095.70 on the Comex division of the New York Mercantile Exchange, climbing for the fifth straight day. [...]
Gold has put down this week a huge price jump from $ 50 per troy ounce. But why? The demand from the jewelry industry has not increased in any case. A more likely explanation is that the market is still plagued by crisis fears - because if and gold always comes into play.
The stock markets [...]
Gold prices rose above $1,000 per ounce on Tuesday to its highest since March 2008 — suggesting investors are wary of the U.S. dollar’s weakness and expect international interest rates to remain low for some time.
Gold is typically bought as an alternative to the dollar among safe-haven assets favored by investors seeking to preserve capital. [...]