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英语文摘:Gold rallies back above $1,000 on strong oil, weak dollar

Source:  Onion  2009-10-01   English BBS   Favorite  
CHICAGO, Sept. 29 (Xinhua) -- Gold futures on the COMEX Division of the New York Mercantile Exchange topped the key level of 1,000 dollars on Wednesday, buoyed by a weak dollar and soaring crude oil. Silver and platinum both ended higher.

    Gold price for December delivery rose 14.90 U.S. dollars, or 1.5 percent, to finish at 1009.30 dollars an ounce, near the intraday high of 1010.80.

    Dollar and oil, the two main factors affecting gold, played the most important roles as the precious metal saw its largest gains in four weeks on Wednesday.

    The dollar index, a gauge measuring the greenback's value against a basket of major currencies, fell 0.376 to 76.672 from 77.048 on late Tuesday, which raised gold's appeal of risk hedging.

    Oil prices climbed more than 4 percent, heading for 70 dollars a barrel after the U.S. gasoline supply dropped unexpectedly. The Energy Information Administration reported that gasoline stockpiles are pegged at 211.5 million barrels last week, 0.8 percent lower than the prior week. Benchmark crude for November delivery jumped almost 3 dollars, or 4.5 percent to settle at 69.69 a barrel by the end of gold floor trading time.

    Analysts indicated that the yellow metal topped the important psychological level of 1,000 dollars during the electronic session, fueling some technical buying and helping gold climb to a 5-day high.

    December silver finished at 16.658 dollars per ounce, up 48 cents. January platinum rose 24.70 dollars to 1302.90 dollars an ounce. 


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