Dear shareholder,
In an effort to keep you up to date on all pertinent information regarding the resource sector, please see the attached article titled; “Gold jumps above $970/oz as dollar weakens.”
Regards,
AGORACOM Investor Relations
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Gold jumps above $970/oz as dollar weakens
Precious metal climbs to firmest level since late February
Jan Harvey
LONDON — Reuters, Friday, May. 29, 2009 06:42AM EDT
Gold on Friday rallied through $970 (U.S.) an ounce for the first time since February in Europe as traders bought the metal as a hedge against weakness in the U.S. dollar.
Rising oil prices, reports of a pick-up in Middle Eastern demand, and firm buying in India, the world's biggest gold consumer, during the wedding season are also supporting prices, analysts said.
Spot gold was bid at $972.60 an ounce at 0923 GMT, against $958.80 an ounce late in New York on Thursday.