AgenciesPublished: November 02, 2007, 21:54
London: Gold pierced $800 per ounce for the first time since 1980 on Friday, ignited by surging oil prices, a record low dollar and a jittery economic backdrop due to further fallout from the global credit market crisis.
Dealers said that the next big resistance level now lay at $850, a record hit in January 1980.
By 1725 GMT, spot gold stood at $806.25/806.85 per ounce, having hit a 28-year-high at $807.30, and around 2 percent up from $788.90/789.70 in New York late on Thursday.
US gold futures raced to $810.70 for the most active December contract.
The dollar sank to a record low against the euro, reversing earlier gains, after a strong US jobs report encouraged investors to wade back into risky carry trades.
