Gold reaches $1000 an ounce

As the value of dollar goes down the gold rates and oil rates are increasing in the market. The gold rate reached above $1000 an ounce to $1005 in the day and later fell down to $998.70.

A BMO capital market in Toronto said that Gold has long life and generally it brings benefit in long run. The market value of gold held with Federal Reserve can be estimated to be $242 billion after the increase in prices.