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IPFS News Link • Currencies

Gold rallies above $1,000 an ounce as dollar weakens

• Market Watch
Gold futures rose above $1,000 an ounce Tuesday, climbing to their highest level in nearly 18 months as a weaker dollar boosted the metal's investment appeal. Silver and copper also rallied.The thinly traded September contract rose as high as $1,006.90 an ounce on the Comex division of the New York Mercantile Exchange, the highest level for a nearby futures contract since March 18, 2008.The most active December contract recently gained $6.40, or 0.6%, to $1,003.10 an ounce. Day Ahead: Gold Rushes Past $1,000Gold futures pushed through the key $1,000 per ounce level overnight but the reasons aren't necessarily encouraging. Kelly Evan reports on your day ahead.The London gold fixing, a global benchmark, rose to $1,000.75 Tuesday afternoon, also the highest level since March 18."The higher the price the higher the volatility, but this market is so concerned with inflation possibilities and dollar weakness that momentum is bringing more investors to the buy side," said G