Gold futures finished the week on a high note, taking advantage of the dollar's tumble against other major currencies to hit a new 27-year intraday high of $752.50. The record intraday high for gold stands at $875, achieved on January 21, 1980. The malleable metal finished the day at $750 an ounce, $10.10 higher and $11.10 higher than the Friday before. Gold was bolstered when the dollar dropped to another record low versus the euro thanks to data showing that core inflation over the past year dropped to its lowest level since 2004. This was the seventh-straight trading day that the dollar hit a new low versus the euro.
Over in the oil patch, crude put a volatile session and week to rest by dropping $1.22 on the day to finish at $81.66 per barrel. After all the ups and downs of the week, black gold finished the week 4 cents higher. Earlier in the day, crude hit an intraday high of $83.76. Energy traders continue to keep an eye on storm developments with Tropical Storm Karen east of the Windward Islands and Tropical Storm Lorenzo moving inland in eastern Mexico. Other crude-related products dropped on the day.