April futures reached a record $1,001.50 an ounce, continuing its steady climb that’s been going on since 2001, reports Allen Sykora for the Wall Street Journal.
The rising price of gold is only accelerated by the falling value of the dollar and the rising cost of oil, which hit a record $111 a barrel today. Oil ETFs such as the Oil Services HOLDRs (OIH) and United States Oil (USO) so far haven’t shown much movement in trading.
Meanwhile, the dollar hit new lows against the yen, says Yuka Hayashi for the Wall Street Journal. For the first time in 12 years, it dropped below 100 yen, threatening Japan’s exporters and increasing the chances that the world’s number two economy would slow. It also hit new lows against the euro, at $1.56.