Gold price hits historic high as dollar continues slide

10/7/2009 | Google · NYTimes.com

Analysts expect the price of gold to climb as high as $1,100 per ounce in the next few days, after seeing the price for December delivery reach an all-time high of $1,045 on Tuesday. The previous high came in 2008 shortly after the bankruptcy of Bear Stearns, when the price reached $1,033.90. The increase comes as the U.S. dollar continues its seven-month decline. The dollar hit a 14-month low against Australia's dollar after the Australian central bank raised its key interest rate.

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