As has been the norm this week, gold continued higher blasting through $1,000/ounce and the dollar index continues to hit new lows.-Lou US gold rises above $1,010 on dollar deterioration
NEW YORK, Sept 11 (Reuters) - U.S. gold futures broke above$1,010 an ounce on Friday, reaching their highest level sinceFebruary, as a steadily weakening dollar increased the statusof bullion as an alternative investment. For the latest detailed report, click on [GOL/]. GOLD * December gold GCZ9 up $13.80, or 1.4 percent, at $1,010.60 an ounce at 10:26 a.m. EDT (1426 GMT) on the COMEX division of the New York Mercantile Exchange.
* Ranged from $996.30 to $1,013.70, which marked the
highest level since Feb. 20.
highest level since Feb. 20.
* The U.S. dollar fell to a one-year low against major
currencies as optimism about the outlook for the global economy
encouraged investors to favor higher yielding currencies and
stocks instead of the safety of the greenback.
currencies as optimism about the outlook for the global economy
encouraged investors to favor higher yielding currencies and
stocks instead of the safety of the greenback.
* Gold continues its steady upward move, helped by
technical buying, stronger euro and crude oil rally - George
Gero, vice president of RBC Capital Markets Global Futures. * COMEX gold open interest continues to expand, signaling strong investment demand from funds - Gero.
technical buying, stronger euro and crude oil rally - George
Gero, vice president of RBC Capital Markets Global Futures. * COMEX gold open interest continues to expand, signaling strong investment demand from funds - Gero.
* COMEX estimated 9 a.m. volume at 47,223 lots. * Gold/oil ratio at 13.96, down from the previous session's 13.89.
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