Gold at $1,000 on Weak Dollar, High Oil

Gold at $1,000 on Weak Dollar, High Oil

www.nworeport.com

NEW YORK (AP) -- Gold futures hit $1,000 an ounce for the first time Thursday, pushed past the benchmark by the sinking dollar and record crude oil prices.

The dollar fell below 100 yen during Asian trading Thursday, its weakest level against the Japanese currency in 12 years. The dollar also dropped to all-time lows against the euro.

After reaching $1,001 on the New York Mercantile Exchange, gold for April delivery dropped slightly to $999.70 by midmorning Thursday.

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This is sad what is happening to the US dollar.

www.nworeport.com
(visit the link for the full news article)

Hell if it gets any worse they will probably start putting nike shoe factories in the US rather than aisa

reply to post by Disgustipated


Wouldn't that be nice. Only problem is demand for Nikes will fall with the world economy and building factories takes capital. Which is becoming more scarce by the day. Furthermore, 18 hour work days 7 days a week just rub me the wrong way.