Commodities: Gold rises

07.12.2007

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Gold prices moved higher again as oil prices rose though investors were uncertain ahead of the interest rate decision next week.

The Federal Reserve is due to announce its rate decision next week, with many analysts expecting rates to be cut again. Any decision will set the near-term direction of the precious commodity.

Gold prices rose $3.40 to $807.10 an ounce.

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Oil prices moved ahead on Thursday as the US government raised pressure on Iran over its nuclear program.

Condoleezza Rice, U.S. Secretary of State, urged Europe and Russia to continue isolating Iran over its uranium enrichment programme despite US intelligence contradicting reports that Iran was secretly building atomic weapons.

The weaker dollar also helped crude prices, which rose $2.74 to $90.23 a barrel.

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Commodities: Gold rises

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