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Gold surges to fresh all time high at $1.195 on general Dollar weakness

Thu, Nov 26 2009, 09:09 GMT
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FXstreet.com (Barcelona) - Gold continues surging at a steady pace fuelled by dollar weakness, gold prices have surged to a new all time high during Asian session at $1.195 an ounce with the Dollar at 14 year low against the Yen and at 15-month low against the Euro.

USD/JPY decline from week high at 89.20 accelerated on Wednesday, breaking below 88.00 and the pair extended its fall through previous year low at 87.00/05 during Asian session to reach a fresh 14-year low at 86.20.

EUR/USD which is showing a rather close correlation with gold prices has extended its rally from 1.4880 low on Wednesday breaking above 1.5100 to hit a fresh 15-month high at 1.5145.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.