Gold futures have been trending up for the last few months due mostly to a weak US dollar, and today closed above th $1,017 mark. The gain occured as the Euro gained in late Friday trading. “Gold and silver responded accordingly,” said Andrew Montano, director of precious metals at Scotia Mocatta. Investors often turn to gold as a hedge against dollar weakness.

Platinum and silver rose as well.

Conventional wisdom is that investors buy gold as a safety net, and as long as the recession continues buyers may outpace sellers.

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