Gold prices hit $1,000 milestone
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gold, investing, precious metals March 14th, 2008Precious metal hits key level on fears about economy and further weakness in the dollar.
NEW YORK (CNNMoney.com) — Gold prices touched the $1,000 milestone for the first time Thursday as the dollar plunged amid nagging fears about the health of the U.S. economy.
After weeks of flirting with the key psychological mark, COMEX gold for April climbed to $1,000 an ounce in morning floor trading. Prices later pared their gains and were most recently up $16.60 to $997.10 an ounce.
Sending prices higher were another drop in the dollar, looming Federal Reserve interest rate cuts, and rising inflation.
Tags: gold, investing, precious metals
