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Article: Gold rises to record price
- Article from:
- Oakland Tribune
- Article date:
- October 6, 2009
- Author:
CopyrightCopyright 2009 Oakland Tribune. Provided by ProQuest LLC. (Hide copyright information)
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As gold prices rose to record highs Tuesday, many Bay Area
jewelers held their collective breath that customers might shy away
from purchases of the precious metal if they stay up.
"It effects us because we have to raise our prices," said Tina
Pencovic, who owns Son of a Jeweler in Fremont and Carlyle Jeweler
in San Mateo. "I don't see as many of the big bulky pieces selling
as much."
Gold futures climbed as high as $1,045 an ounce in New York
Tuesday, topping the previous record of $1,033.90 in March 2008. The
spot price is headed for a ninth straight annual gain, the longest
rally since at least 1948. The dollar fell as much as 0.7 percent
against a basket of six major currencies.
"Gold ...