Gold sets new high

Published: 9:58AM Tuesday November 10, 2009 Source: Reuters

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  Source: Reuters

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Gold surged to a record high above $US1,110 an ounce after Group of 20 policy-makers over the weekend pledged to keep emergency economic aid in place until a recovery was assured.

The US dollar fell across the board, lifting gold prices and the euro above $US1.50 after the G20 meeting and US jobs data last week underscored the belief US interest rates will remain low for some time.

Copper and other metals also rose.

Miners BHP Billiton, Anglo American, Antofagasta, Rio Tinto  and Xstrata rose between 4.2% and 5%.

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