Weaker dollar sends gold higher again
by Elaine Frei
Gold prices were up again Monday as the US dollar weakened yet again with concerns over Dubai’s debt crisis easing somewhat.
The price of gold added 13 percent in November, with only three losing sessions all month, and prices are up 33 percent since the beginning of the year.
December contracts for gold were $6.90 higher to $1,818.10 per troy ounce in New York, while February contracts added $7.50 to $1,183 per troy ounce.
Most other precious metals also saw prices go up during the session as March silver added 21 cents to $18.54 per troy ounce and January platinum gained $13.10 to $1,460.20 per troy ounce.
Palladium prices fell however, with December contracts down $2.15 to $363.55 per troy ounce on the session while March contracts had dropped $1.10 to $367.45 per troy ounce by mid-morning in New York as investors took profits.
Among base metals, March copper added 5 cents to trade at $3.18 per pound in New York.
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