Dhaka, Bangladesh (BBN)- Precious metals continued to gain throughout the week as possible further Federal Reserve moves to increase money supply weighed on the U.S. currency and boosted alternative assets.
Gold prices touched new highs during the week and traders expect prices to propel to new all-time highs above USD 1,300 an ounce, according to reports.
On Wednesday, spot gold hit record high of USD 1,296.10 per ounce before pariing some gains. Spot silver hit a new two and a half year high of USD 21.19 an ounce on Thursday, as market sentiment remained bullish on global economic uncertainties.
Oil was steady as investors remained on the lookout for signs of sustained economic growth in the U.S. ahead of a key Federal Reserve policy meeting.
BBN/SI/AD-25Sept10-1:51 pm (BST)