Agoracom: Small Cap Investment - Crystallex International - Gold rallies 5% as massive rescue plan pressures dollar

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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Gold rallies 5% as massive rescue plan pressures dollar

posted on Sep 22, 2008 10:07AM

Is $1,000 far behind?

Gold rallies 5% as massive rescue plan pressures dollar

By Moming Zhou

Last update: 1:52 p.m. EDT Sept. 22, 2008

NEW YORK (MarketWatch) -- Gold futures rose more than 5% Monday to above $900 an ounce, as a $700-billion government plan to rescue the financial sector pressured the U.S. dollar, increasing the metal's appeal as an alternative investment. Gold for December delivery rose $44.30, or 5.1%, to close at $909 an ounce on the Comex division of the New York Mercantile Exchange. Other precious metals also moved higher.

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