Gold back above the $900 mark

Posted: April 27th, 2009 | Author: admin | Filed under: Energy, Precious Metals | Tags: Gold Prices, Oil Prices |

As the dollar fell against the Euro, so investors ran for the cover of gold, pushing prices on Friday back above the $900 an ounce level. It finally closed $906.60, up $14.10.

Other factors included inflationary concerns and Indian demand for the Akshaya Tritya festival, a time when more gold is bought to make jewellery.

At the same time, oil also rose, finishing just short of $50 a barrel on Friday, pushing through that on Monday.

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Gold back above the $900 mark

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