Dec. 11 (Bloomberg) -- Gold prices rose to the highest in almost eight weeks as a sliding dollar boosted the appeal of the precious metal as an alternative asset.
Gold has jumped 9.9 percent this week as the dollar dropped 4 percent against a weighted basket of six major currencies. The metal reached a record in March as the greenback headed for an all-time low against the euro.
Gold futures for February delivery rose $17.80, or 2.2 percent, to $826.60 an ounce on the Comex division of the New York Mercantile Exchange. Earlier, the price reached $835.30, the highest since Oct. 16. The metal was up for the fourth day in a row.
SBS Price at posting:
1.3¢ Sentiment: LT Buy Disclosure: Held
