Gold shoots to seven-year peak on weaker dollar – Gulf Today

Gold shoots to seven-year peak on weaker dollar – Gulf Today

Gold struck a seven-year pinnacle above $1,700 an ounce on Tuesday as massive Fed stimulus floods markets with dollars, weakening the greenback and sending investors running to the precious metal, analysts said.. Just after 1230 GMT, Gold rallied to $1,731.25 an ounce on the London Bullion Market, striking a peak last seen in November 2012.. ActivTrades chief analyst Carlo Alberto De Casa said Gold was buoyed purely by the US central bankҼs stimulus rather than investors shunning risky assets -- with Gold traditionally seen as a haven investment in times of economic unrest..