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Dollar Plunge Helps Gold Price Consolidate above Key $400 Level.

Bangkok Post (Bangkok, Thailand)

| December 08, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Dec. 8--A sharp drop in the dollar to a series of record lows against the euro dominated commodities markets last week, pushing gold prices up to a firm footing above $400 an ounce.

Meanwhile, a meeting of the oil cartel Opec proved to be somewhat uneventful, although analysts said it had paved the way for a price-supporting cut in members' production quotas early next year.

Gold: Prices consolidated above the psychologically important $400 level as the US currency's continued slide made the dollar-denominated metal more attractive, particularly to non-US buyers.

The spot price on Friday was $403, against $398.15 a week earlier. Silver edged up ...

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