London (Reuters) - gold prices hit record for a fifth session, on Thursday and money summits rallies to his stronger since 1980 as the dollar slid to a minimum of three years against a basket of major currencies.
The action on the foreign exchange market has added fuel to a rally sparked by concerns about the U.S. Economic Outlook, the increase in inflation, concerns about eurozone debt and historically low interest rate of the United Statessaid analysts.
Spot Gold was offer the $ 1,502.10 an ounce at 1322 GMT, against $1,498.15 end of New York, on Wednesday, after having reached the earlier $ 1,508.75 an ounce. Future U.S. to gold for June delivery rose $3.90 to $1,502.80 an ounce.
Silver has bid to $45.71 an ounce against $45.20.
"We have seen the dollar weaken fairly well throughout this morning, even against the yen,", said the Credit Switzerland analyst Tom Kendall.
"Carry trade is back in force and if we look at the."DXY breaking down by 74, making new lows of the year and which is certainly playing in precious metals. ?
Raw materials.
Reuters-Jeffries CRB, a world reference index for commodities, has posted its biggest rise a day in a fortnight on Wednesday.
Many were assisted by losses in the dollar, which slid to its lowest level since early 2008, against a basket of currencies main Thursday.
Brent crude have exceeded $124 a barrel that crude oil inventories U.S. unexpectedly fell last week and the dollar weakened, even if it was later reduced earnings.
Investors have rushed in assets at risk due to the strong of profits of enterprises U.S. and signs that the global economy is chugging along, then even the Federal Reserve remains very cautious when it will start to relax its super-loose policy.
MORE STRINGENT POLICY IN THE EYES
A tightening of us monetary policy and the possible increase in interest rates are still considered the biggest risk factors for gold, which, as an asset in non-interest-bearing has a lower cost when rates are depressed.
But for the moment, the precious metal proved resilient over $1,500 an ounce.
"We expect further dips to be considered as buying opportunities, with the gold and silver viewed favourably by investors seeking to protect themselves against inflation and debt, the trac", said analyst James Moore FastMarkets.
On the supply of the market, African Barrick Gold said its output fell by 2% on year in the first quarter, but said that it was on track to achieve its objective of production of the whole of the year.
Gold is a lot less hostage to fundamental traditional offers and demand that the goods which are consumed physically as oil, but these factors may still have an impact on prices.
"A supply/demand imbalance course underlies the market as good demand for gold jewellery and investment bars and parts in Asia outweighs the mine supply," said analyst of Fairfax John Meyer.
Among other precious metals, platinum was at $1,811.99 an ounce against $1,791.15, palladium, then to $763 against $767.97.
Anglo Platinum, number one world of precious metal producer, kept its target year full production Thursday despite a 5 percent fall in the first quarter output attributed to the decisions of the security.
(Reported by Jan Harvey.) (Editing by Alison Birrane)
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