10 Oct 2009

Gold price reaches another high

8:14 am on 10 October 2009

The price of gold has touched an all-time high for a third consecutive day as the US dollar continued to decline.

Gold reached $US1,061 an ounce, before easing back to $US1,054 an ounce.

Investors are buying the dollar-denominated metal as a hedge against inflation and a weaker greenback.

In some currencies, including the Australian dollar, gold has actually fallen in price this year.