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Microcap & Penny Stocks : Rat dog micro-cap picks...

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To: ~digs who wrote (40861)	9/7/2009 10:14:26 PM
From: Bucky Katt	Read Replies (1) of 48461

Sept. 8 (Bloomberg) -- Gold futures advanced to $1,000 an ounce for the first time in more than six months as a weaker dollar and concern that inflation may accelerate boosted the metal’s appeal as an alternative investment. The contract for December delivery touched exactly $1,000 on the Comex division of the New York Mercantile Exchange, taking this year’s rise to 13 percent. Immediate delivery metal rose to $998.25 an ounce. Gold has rallied every year since 2000. Governments have cut interest rates and boosted spending to fight the worst recession since World War II, spurring investors to buy bullion as a hedge against potential inflation and debasement of currencies. The Dollar Index has lost 4.1 percent this year. Gold typically moves inversely to the U.S. currency. “There’s not many good options for investors to hedge against a declining dollar and rising inflation,” Hwang Il Doo, head of trading with KEB Futures Co., said today from Seoul. “Gold will rise to $1,100 an ounce by the end of the year, once physical demand from China and India adds fuel to the rally.” Gold last traded at more than $1,000 on Feb. 20, the first time the metal had breached that price since March 2008. Futures then retreated to as low as $865 on April 6. The December contract added 0.2 percent to $998.20 an ounce in New York at 9:32 a.m. in Singapore. Spot gold traded at $995.85 an ounce.

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