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08:54, January 15, 2008 |
U.S. gold futures refreshed record high Monday on expectations of a sharp U.S. interest rate cut and further U.S. dollar weakness.
The gold futures for February delivery rose 5.70 dollars an ounce to 903.40 dollars after reaching as high as 915.90 dollars.
A weaker dollar makes gold cheaper for holders of other currencies and often lifts bullion demand, said analysts.
Gold's surge also prompted buying of other precious metals, with platinum hitting a record high before giving up some gains and silver was quoted near a 27-year peak.
Source: Xinhua
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