Gold Reaches New Record Highs and Silver Reaches Record 30 Year Highs on U.S. Dollar Weakness

Thursday, October 14, 2010
By Paul Martin

By: GoldCore
MarketOracle
Oct 14, 2010

Gold rose to new record nominal highs and silver to 30 year nominal highs again this morning as the dollar weakened and there were renewed concerns that large banks may have to raise more capital. Gold’s rise is not solely a dollar story with gold rising to near record nominal highs even in the safe haven currencies of the yen and Swiss franc. Gold rose to 112,537 yen an ounce in trading in London this morning, the highest price since June 28.

Gold is currently trading at $1,376.70/oz, €977.70/oz, £859.60/oz.

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