Spot gold hits record highs, crude oil breaks $90 per barrel

Dhaka, Bangladesh (BBN)– Crude prices rose to 26-month highs above USD 90 a barrel this week as US dollar (USD) hovered near its lowest level in weeks, hit by weaker-than-expected U.S jobs data and renewed focus on quantitative easing.

The fall in crude oil price on Tuesday was reversed the next day and NYMEX WTI prices ended the week trading above US$ 89 a barrel.  

On the other hand, spot gold price hit an all-time high at USD 1,429.40 an ounce this week before easing below US$ 1,400 levels. It firmed a notch on Thursday, after sliding more than one percent in the previous session, as a dollar rally paused, and resilient physical demand in Asia provided support.

Silver futures front-month contract rose above USD 30 an ounce for the first time since 1980, according to reports.

BBN/SI/AD-12Dec10-1:45 am (BST)   

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