The price of gold broke $1,000 an ounce in early September, hitting an 18-month high mainly on concerns over a weak US dollar. “The dollar was well bid during the credit crisis, acting as a flight to quality instrument,” said James Steel, chief commodities analyst at HSBC. “The safe haven bid has now come out of the dollar and those that were long are liquidating, which is weakening it and bringing it down to fresh lows against the Euro.”
While dollar liquidation is supporting the gold price