Intercultural Business News

    Posted by Neil Payne on October 8th, 2009

The price of gold has touched an all-time high for a third consecutive day – after a continued decline in the dollar kept it attractive to investors.

Gold reached $1,058 an ounce, powering past Wednesday’s high of $1,048.4. On Tuesday it passed the $1,033.9 an ounce record set in March last year.

Analysts said that there was still potential for prices to rise further if the dollar remained weak.

Gold Price Hits All Time High

However, there was caution that it may represent a price bubble.

Speculative bubble?
 FACTORS IN GOLD PRICE RISE
Weak dollar
Speculation
Inflation risk
Time of year
Why prices are high and does it matter? 
“Investors are turning towards gold as a hedge in dollar weakness,” said Adrian Koh, an analyst at Phillip Futures in Singapore.

Read More>BBC News

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