Gold prices opened at the $1,400 mark as the dollar's most significant decline in two weeks prompted fresh buying. Values soared on the greenback's fall showing larger than normal moves amid still thin participation and a London market that was closed.
The uncertain conditions which have now blossomed in various markets following the $1 trillion 'contagion containment' package maintained the lift on the wings of the gold market and helped it rise to overnight records near $1245.
Gold trading opened with a small $1.50 loss on this, the last trading day of the week. Spot prices started off the session at the $1,230.90 level, following an overnight dip to near $1,227.00 the ounce.