Replies to post #6007 on Northgate Minerals Corp (NXG)

[EZ2]

Dollar lower, gold up in morning trading

Dec 11, 5:58 AM (ET)


LONDON (AP) - The U.S. dollar was down against other major currencies in European trading Thursday morning. Gold rose.

The euro traded at $1.3170, up from $1.2988 late Wednesday in New York.

Other dollar rates:

_92.07 Japanese yen, down from 92.63

_1.1906 Swiss francs, down from 1.1978

_1.2515 Canadian dollars, down from 1.2574

The British pound was quoted at $1.4994, up from $1.4789.

Gold traded in London at $821.00 per troy ounce, up from $802.25 late Wednesday.

[EZ2]

KANGAS: That would be good for gold, wouldn't it?

KRAMER: Absolutely. And that's why I see a recovery with gold. Because what happens, is with the dollar down, you're going to have other investors around the world -- in China, in Europe -- starting to look for other currencies or other forms of investment and that may lead them to gold and gold investments if they don't want their money in the U.S. dollar.

KANGAS: Do you have a target price for gold?

KRAMER: I do, absolutely. I think that gold could reach $1400 during 2009.

http://www.pbs.org/nbr/site/onair/transcripts/081224e/