Gold Sets New All Time High

Last Update: 03-Nov-09 15:30 ET

Dow -45.12 at 9744.32, Nasdaq -0.26 at 2048.94, S&P -0.94 at 1041.94

[BRIEFING.COM] Commodities managed gains this session as the dollar pared its early gains throughout the session.

Gold futures traded with strength all session, even when the dollar was strong early. The December futures rallied to a new all time high at $1087.30 per ounce just before the close and finished up 2.9% at $1084.90 per ounce. The December contract even notched a new all time high at $1088.50 per ounce after the close of the pit trade. Silver futures saw similar strength. Silver futures rose an impressive 4.5% to close at $17.18 per ounce.

After opening lower on strength in the dollar, crude oil futures advanced as the dollar pared its gains. December crude oil pulled back just shy of the $80 level, but still finished with strength at $79.63 per barrel, up 1.9%. Natural gas futures pulled back late in the morning after notching highs at $4.94 per contract. After dipping into negative territory for just a moment, they returned into positive territory. They closed 2.1% higher at $4.92 per contract.

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