Gold Closes At Seven-Week High Of $842.70
Friday, December 28, 2007 2:37:41 PM – Gold finished at its highest level in seven weeks on Friday in U.S. trading. Bullion for February delivery closed at $842.70, up $10.90 for the day. Bullion finished up for the fifth straight session and ended the week up $27.30 from last Friday’s close.
The precious metal’s hedge value was boosted by further weakness for the U.S. dollar. The greenback extended its 2 1/2 week low against the euro, continuing a downward move that began Tuesday evening. The buck also fell to a 10-day low against the British pound and a six-week low against the Canadian dollar.
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