Explore Monex
February 29, 2008

Are gold and silver appreciating in all currencies?


"Record breaking gold eyes move to $1,000

Gold appeared to have the $1,000 level firmly in its sights as bullion continued its record breaking run and rose to a new peak of $975.90 a troy ounce on Friday.

Commodity markets have enjoyed an extra-ordinary week of price strength with oil hitting a record $103.05 on Friday before Nymex April West Texas Intermediate eased back, trading 6 cents lower at $102.46 a barrel.

ICE April Brent also continued to trade above the $100 level, slipping 22 cents to $100.68 a barrel.

Dollar’s weakness has been widely cited as a key driver of the present rally across commodity markets. But analysts at Barclays Capital disagreed.

'Commodity prices are going up in all currencies. Supply losses, strong demand and low inventory levels are the key drivers, not exchange rates,' the broker said."

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

See What Investors are Saying About Monex

Thank You!
Want your kit sooner?
Faster delivery is available by phone.
Get Your Free Report

A Better Future
with Precious Metals

  • All form fields are required

  • Privacy Policy
  • This field is for validation purposes and should be left unchanged.
Download Your Report