Gold crosses US$ 1,300 an ounce

Dhaka, Bangladesh (BBN)- Gold prices rose over the week, hitting all-time highs above USD 1,300 an ounce, as investors fretted over economic uncertainty after the Federal Reserve raised expectations to take new measures to spur growth.

Silver also surged to a 30-year high on strong investment buying. Though the metals pared some gains on Monday following a rebound in the US$, prices bounced back on a weakening US$ during the later part of the week, according to reports.

Oil prices started the week on an upbeat mode as data showing a rise in business spending in the U.S. lifted markets.  

An industry report showing that crude and winter fuel stockpiles declined last week in top-consumer the United States, and an weakening Dollar gave oil prices a further boost, taking the NYMEX WTI towards USD 79 a barrel on Thursday.

BBN/ANS/AD-02Oct10-11:36 am (BST) 

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