CNN Money reports gold moved higher for the third time this week while the dollar fell.

The dollar tumbled against the euro, pound and yen on fears of further weakness in U.S. financial institutions. That sent investors flocking to commodities, which are often used as hedges against inflation.

Editor of The Hightower Report ,David Hightower wrote:

“The falling dollar seems to be the primary catalyst for the fall in commodities.” “There are inflation buyers who are scared by paper problems at Lehman, Fannie and Freddie, so they’re using commodities as a flight-to-quality investment.”

For complete story, click this link. Follow developments in gold and exploration for free. Sign on to the Gold Investing Newsletter.

1 Comment

Tweet