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Strategies & Market Trends : Aardvark Adventures

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Dec 9 3:59 PM EST

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To: ~digs who wrote (1935)	1/8/2006 8:26:31 PM
From: ~digs	of 7944

SINGAPORE, Jan 9 (Reuters) - Gold rose to its highest level since March 1981 on Monday as funds poured money into the precious metal on worries about rising energy costs, uncertainty about the dollar's outlook and general security-related fears. Spot gold rose to $542.40/543.15 an ounce, its highest level since March 27, 1981, when it hit $547.25. Gold last traded at $538.30/539.00 in New York on Friday. "I am probably looking at 548. Gold will retest the highs again and $550 is the big number. I think the main drive is the dollar," said a dealer in Singapore. The dollar fell to its lowest level in three months against the euro on Friday after a weak U.S. jobs report for December, boosting expectations U.S. rate rises could soon end. The dollar was little changed from late New York levels at $1.2147. Dealers said sentiment for gold was bullish as funds and investors diversified away from assets such as equities, currencies and bonds. warrants.bnpparibas.com

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