Broken Record? Gold Hits Record Hit, US Dollar 15 Month Low

Is this starting to sound familiar to anyone else but me?

The Gold rally resumed once more on Wednesday as prices rose more than $15 an ounce, spurred on by the US Dollar’s seemingly endless decline, which continued today as renewed optimism over the economic recovery led to dollar selling. Investors moved away from the greenback in favour of more high risk, higher yielding assets.

As the Dollar fell to 15-month lows Gold pushed higher setting yet another record and was last changing hands at $1,117, meanwhile longer dated 2010 futures breached $1,120.

SOURCE: Proactive Investors UK - Gold chalks up another record high after US dollar hits 15 month low