The precious yellow metal seems to remain as a winner; it gained today in its price as the oil stayed at a record price and the dollar is falling.

Gold prices are inclining; the precious metal reached a high of almost $923 an ounce. This boost in its price on one hand is due to the weakened dollar knowing that these two have an inverse realation, as soon as one inclines the other declines automatically. Plus on the other hand, the high prices of oil supported deeply the rise in gold prices. Gold is actually being a yellow magnet, pulling investors towards it as being a safe asset and becoming a hedge against inflation these days. Investors are leaving the dollar to head to the yellow precious metal.

The Oil price is steady after it reached a record of $129.60, always due to the demand on Oil that is constantly increasing. In China, after the big earthquake, regions are relying on oil as some areas are running desperately short of coal, so they depended on diesel generators for power, in addition to the inclining global demand on crude oil, not forgetting that the crude supply isn't that high. Moreover, the weakening dollar made the oil more attracting for investors, picturing the oil as a hedge against the falling dollar.

The US dollar is falling against major currencies and is loosing from its value, which strongly helped the prices of gold and oil to stay up and keep on increasing, this is mainly because of the inflation data released yesterday which made the dollar weaker and pushed investors away as this gave the Feds now the ability to continue their easing policy if needed. Investors do not see high returns anymore in the dollar, returns that are highly found in the yellow precious metal and in the crude oil, rather than the weakened green currency.