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Gold and oil soar amid market turmoil

The dollar fell to ¥95.72, the lowest since August 1995, in Tokyo before recovering to ¥96.84 later. Against the euro, the dollar fell to $1.5851 from $1.5676 on Friday.

The price of spot gold — traditionally seen as a safe haven in times of turmoil –jumped by more than 3%, hitting a new record of $1,030.80 an ounce in Asian trading. Gold was trading at $1021.70 an ounce in London mid-morning.

Oil prices jumped to a new peak of $111.80 a barrel in Asia.

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Written by mudshark

March 17, 2008 at 8:18 am

Posted in disordered, gov_corup

Tagged with ,

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