Gold price soars to $945

Gold price soars to $945
# 20 August 2009 13:27 (UTC +04:00)
Baku -APA-Economics. Gold held near $945 an ounce in Europe on Thursday, up a touch from the previous session as the dollar’s retreat from early highs against a basket of currencies boosted interest in the metal as an alternative asset, Reuters reported.
Spot gold was bid at $943.60 an ounce at 1045 GMT (6:45 a.m. EDT), against $941.55 an ounce late in New York on Wednesday. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange rose 40 cents to $945.20.
The dollar index edged higher early on Thursday, capping gains in the precious metal, though it has since eased back to trade little changed from the previous session.
Oil prices meanwhile eased toward $72 a barrel, after rising more than 4 percent in the previous session. Gold often tracks crude prices, as it can be used as an inflation hedge.
Spot silver was at $14.00 an ounce against $13.79. Elsewhere platinum was at $1,246 an ounce against $1,234.50, while palladium was at $273 against $270.
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