Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (34093)	5/21/2003 1:11:03 AM
From: elmatador	Read Replies (1) of 74559

Gold continues to surge as dollar stays weak By Kevin Morrison and Nerma Jelacic in London Published: May 20 2003 12:11 \| Last Updated: May 20 2003 12:11 Gold prices jumped to $370 a troy ounce for the first time since falling from a six-year high three months ago, as the US dollar hovers around four-year lows against the euro. The precious metal has benefited from the continued depreciation of the dollar, which is also near its lowest trade weighted level since early 1997 against a basket of currencies. There seems to be no sign of any halt to the slide, although the decline did stall on Tuesday after the Bank of Japan was suspected of covertly buying dollars for yen. The weak dollar has prompted analysts to forecast gold to return to near its high of $388.50 reached on February 4. news.ft.com

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