Gold price rockets as dollar weakens

The price of gold hit a new peak last week, rising above $1100 (£659) an ounce as the dollar weakened... Towards the end of the week it was still up about the $1116 mark, and industry commentators suggested several possible reasons for the commodity’s sudden $20 jump.

The leaders of the G20 countries had met over the previous weekend and pledged to continue with their fiscal stimulus measures. Emerging markets, including India have been adding to their gold reserves, and developed currencies continued to weaken, with the dollar sliding against the euro, which could all have been upward drivers of the gold price...

Fund Strategy: Gold price rockets as dollar weakens