9 Sep 2009

Gold rises above $1000

8:47 am on 9 September 2009

The price of gold has risen above $US1000 for the second time this year.

Gold jumped more than 1% to $1,007.45 an ounce. It has risen 14% in value this year.

Michelle Madsen of the metals information company Platts told the BBC the move indicates investors believe the worst of the global recession is over and are now worried about inflation.

She says others who are less convinced about the strength of the recovery are also moving into gold, as it's usually sought as a haven from economic turmoil.