Dollar Correction Leading To Stronger Gold Prices

In European trading on Monday the US Dollar is trading down and boosting gold prices.

Spot gold was at $862.25/865.25 an ounce at 0911 GMT, up from $847.40 in late New York trade on Friday.

Money continues to flow into gold ETFs...

The SPDR Gold Trust, the world's largest gold-backed ETF, announced on Friday that its holdings rose to a record 770.64 tonnes last week.

The SPDR Gold Trust (NYSE GLD) has expanded its holdings by 26% since the bankruptcy announcement by Lehman Brothers.