As the week is about to end, the precious metal prices rebounded today to the upside since its famous advisory, the dollar, is weakening against the majors as carry trades are taking place in the market having consequently the appeal of the gold boosted back up as a hedge against a weakened dollar, not forgetting that the shiny metal and the green currency have an inverse relation. Up till now, the precious metal recorded a high of $754.75 an ounce and shows a strong tendency to continue on rising to the top.

Crude prices are slightly inclining from the lowest level that it has reached since May 2005, as Asia stocks increased since it is highly speculated that major economies will work together harder to find new ways and strategies to ease the deepened global credit crunch. Still, crude prices are relatively low, recording a high of $50.09 per barrel and a low of $48.25 per barrel.

As Asian stocks increased, it pushed the yen to fall against the dollar and the majors having an appetite of risks resurrected which generate carry trades in the markets boosting demand for higher-yielding assets. This permitted of course the euro and pound to advance against the dollar which of course weakened the green currency.