|
NEW YORK (AP) - Gold prices bolted above $1,000 again on Friday, hitting a new record after a liquidity crisis at Bear Stearns Cos. rattled Wall Street and fed buying of safe-haven investments.
Other commodities traded mostly lower, with crude oil, copper and agriculture futures falling.
Following weeks of flirting with the $1,000 mark, gold finally breached the milestone Thursday after the dollar plunged against rival currencies. The dollar hit a record low Friday against the euro, which bought as much as $1.5687. The greenback's fall has been a major driver of gold because investors consider the metal a safe investment in times of economic turmoil and rising inflation.
|