LONDON: Gold started the first week of 2004 on a high note in Europe yesterday, breaking through a long-standing target of US$417.70 an ounce to hit the highest levels since February 1990 as the US dollar fell to new lows against the euro and three-year nadirs against the yen.
Analysts said gold could touch US$450 an ounce this year, the highest in 16 years, because of continuing dollar weakness, fears of fresh attacks on the United States, and persistent violence in Iraq.
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