Summary Box: Gold at new heights on weaker dollar

AP News
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Posted: Oct 13, 2010 3:50 PM
Summary Box: Gold at new heights on weaker dollar

NEW HEIGHTS: Gold reached new heights as a weaker dollar prompted more investors to shift money into assets perceived as being safer. Gold settled at $1,370.50 an ounce, the latest in a recent series of record highs.

SILVER POLISH: Silver hit its highest level in decades, adding 78.5 cents to settle at $23.932 an ounce.

DOLLAR MOVE: Most commodities benefited as the dollar grew weaker against other currencies. Since commodities are priced in dollars, they are more of a bargain for traders who buy them with foreign currencies.