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Gold could hit $800
- US: Wednesday, October 17 - 2007 at 07:51
Gold could hit $800 an ounce shortly as record high oil prices and a weak dollar force the yellow metal up to levels not seen in 28 years, reported Reuters. Gold hit $850 an ounce in 1980 and the precious metal is seen as a hedge against oil led inflation. David Holmes, the Director of Precious Metals Sales at Dresdner Kleinwort, said gold was in 'uncharted waters' and 'anything is possible'.
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Jonathan Sheikh-Miller, Deputy EditorWednesday, October 17 - 2007 at 07:51 UAE local time (GMT+4)
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