16 January 2006, 17:14  Gold hits 25-yr peak, oil rises, shares steady

Gold prices jumped to a 25-year high on Monday, oil prices rose as tensions between Iran and the West simmered and violence grew in Nigeria, and the dollar remained near a three-month low against the euro. European shares were steady after a fall in Asian markets, while Wall Street was closed due to a holiday. Dealers said investors and fund managers have been buying precious metals because of uncertainty over high energy prices, fears of militant attacks and the dollar's outlook. Talk also resurfaced of central bank buying in the Middle East, as U.N. Security Council members discussed steps to curb Iran's nuclear programme. Spot gold prices leapt to as high as $561.25 an ounce while platinum rose to its highest level in nearly 26 years.

© 1999-2024 Forex EuroClub
All rights reserved