Gold Holds Above $1,000
Today gold bullion prices remained about $1,000 per ounce as a pressurised dollar continued to weaken. The US dollar is under pressure because of last weekâ€™s employment data which indicated that future recovery may not be as robust as previously predicted.
There had been a wobble in the price of gold on Friday after figures announced showed that US employers had cut more jobs than expected in September sending unemployment soaring to a 26 year high of 9.8%. However, as investors buy gold the price has regained its position at over $1,000 per ounce today.
Currency prices did not fair as well and remained under pressure this morning and falling again showing that in uncertain economic times gold is a more reliable investment than currency.
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