RTRS: Gold hits 18-mth high as US$ falls, eyes record
LONDON - Gold hit a new 18-month high of US$1,025.10 an ounce in Europe on Tuesday as the dollar slipped against a basket of currencies, boosting interest in the metal as an alternative asset.
The dollar fell after a media report, later denied, that Gulf Arab states were in talks to abandon the dollar in oil trade in favour of a currency basket.
Spot gold was bid at US$1,022.30 an ounce at 0958 GMT against US$1,016.65 late in New York on Monday.
