Summary
Gold rose to the highest since 1980 as record energy costs and a weakening dollar boosted the appeal of the precious metal as a hedge against inflation. Silver also gained.
Some investors buy gold when fuel expenses climb to hedge against accelerating consumer prices. Crude-oil futures rose to a record $85.48 a barrel today as tensions mounted between Turkey and Iraq, which has the world's third-largest petroleum reserves. The precious metal reached a record in January 1980 after oil doubled in a year.See the full content of this document
Extract
Gold Rises to 27-Year High
"Oil is at a record high, and in the face of...
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