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The dollar struck a fresh all-time low against the euro Friday as gold prices traded close to record highs a day after topping 1,000 dollars for the first time on US economic woes.
South Africa, producer of 30 percent of the gold in circulation today, is unable to profit fully from record prices for the precious metal as a crippling electricity crisis hampers production.
The euro jumped Monday to another record high against the dollar as the markets were rattled by the collapse of US bank Bear Stearns, while gold and oil hit historic peaks as investors sought safety, dealers said.
The dollar plunged to a new trough against the euro Monday, undermined by the collapse of US bank Bear Stearns, which powered oil and gold to record heights as investors sought refuge from turbulence.
Crude oil and gold prices plunged from recent record heights on Wednesday, as markets were rattled by concerns that ongoing global economic turmoil would dent demand for commodities, analysts said.
IBAN Method of Payment Now Accepted For Gold Bullion Purchases
Rosato, the fashion-forward Italian jewellery brand well-known for its charms and trendy jewels
The International Monetary Fund Monday proposed the sale of 403.3 tonnes of gold to bolster its sagging coffers as part of a wide-ranging financial overhaul.
The International Monetary Fund Monday proposed the sale of 403.3 tonnes of gold to bolster its sagging coffers as part of a critical financial overhaul.
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Switzerland's central bank on Friday posted a loss of 3.97 billion Swiss francs (2.45 billion euros/3.79 billion dollars) for the first quarter of 2008 which it blamed on the appreciation of the Swiss franc against major currencies.