September 14, 2009
Gold prices extended gains in Asian trade today, encouraged by the dollar's slide, as investors shifted money out of the low-yielding US dollar.
Spot gold rose 0.4 per cent to $US1008.70 an ounce, compared to New York's notional close of $US1004.85.
It hit $US1011.55 on Friday, its highest since March 2008.
Gold jumped 1 per cent on Friday, closing above $US1000 an ounce for the first time since March 2008 as a slumping dollar and inflation fears stirred investment demand for bullion.
US gold futures for December delivery rose 0.3 per cent to $US1009.90 per ounce, compared to $US1006.40 an ounce on the COMEX division of the New York Mercantile Exchange. The session high was $US1013.70, the highest price since February 20.
The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings stood at 1077.63 tonnes as of September 13, unchanged from the previous business day.