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Gold Hits Record High above $1,123 - ASHARQ AL-AWSAT English Archive
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LONDON (AFP) – The price of gold surged to an all-time high point above 1,123 dollars per ounce here on Thursday, as trade was driven by buoyant stock markets and the weak US currency, analysts said.

On the London Bullion Market, gold jumped as high as 1,123.38 dollars an ounce.

“The metal remained supported by stronger equities and the weaker dollar,” said James Moore, analyst at specialist metals website TheBullionDesk.com.

Gold has blazed a record-breaking trail in recent weeks on the back of the struggling US unit, which makes the dollar-priced precious metal cheaper for buyers holding stronger currencies, and therefore tends to boost demand.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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