Gold Hits Seven-Year High


November 13, 2003

Gold Hits Seven-Year High

Gold futures prices spiked to almost $400 an ounce yesterday on the Comex division of the New York Mercantile Exchange, after a slide in the dollar against the euro and other currencies. At one point the price of the active December contract logged $397 an ounce, then fell back to $395. November futures climbed to $394.90. Middle Easterners also bought a great deal of physical gold recently, after bombings in Saudi Arabia and Iraq, which may also have pushed prices upward, said the Wall Street Journal.

Analysts are divided as to whether gold will go over $400 in the near future, but are united in saying it will eventually stop around $405 an ounce and stay at that level for awhile.






Sign me up for
THIS WEEK @
professionaljeweler.com