Weak US dollar continues to push up price of gold

A weak US dollar continues to make gold an attractive buy for investors, as well as increasing demand from emerging markets, which is pushing up the price of gold.

Furthermore, gold traditionally rises during the October to December period as the run-up to Christmas and the Indian festival of Diwali pushes up demand.

The precious metal rose to a record high $1,104.80 per ounce today, as the US dollar continued to fall.

The price of gold could continue to rise if the dollar remains weak. Typically, the US currency moves in the opposite direction to gold

This year, the dollar has fallen by 13% against the pound this year, and by 7% against the euro.

So far this year, gold prices have increased more than 25% across the world.

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