Today we have a different scene taking place; gold price is rising as well as oil both facing a dollar that has weakened.

Since the beginning of the week, gold has been declining but only today was the yellow precious metal able to re-shine and see a rise in its price thanks to the decline of the dollar. In other words, we could say that gold is earning its role as a hedge against inflation and is looked at as a safe asset that will attract investments once again. Basically this dollar's decrease strongly supported the incline of gold price; gold reached $882.10/883.10 an ounce and gained as much as $3.08.

Oil from its side, being encouraged by the weakened dollar, remained witnessing a rise in its price, recording today another record high by reaching near to $125 a barrel. Always due to the same geopolitical factors that are taking place in two of the biggest oil producers; Nigeria where rebel attacks are still targeting oil facilities and Iran which is still having a bad relation with the West because of its insistence on not backing off from it nuclear plan. These factors will continue on affecting and limiting strongly the oil supply in the international market. Oil as gold is being seen as a hedge against inflation.

Now, the US dollar slipped against most of the major currencies due to the boost of oil prices and because of the European Central Bank and the Bank of England decisions to hold the interest rate steady at 4.0% and 5.0% which made the euro and the British pound pick up against the dollar. This falling dollar gave a big hand to the rebound of gold today.