Dollar Soars as Gold Prices Surge

The dollar experienced a partial recovery in Asian trading today, Tuesday, after five consecutive days of selling. This comes just before American traders return from a public holiday in the United States.

The dollar index rose by 0.2 percent to 97.873 in the latest trades, following its drop to the lowest level since July 28 on Monday. Concurrently, gold prices have reached an all-time high.

Gold reached a record high of 3508.50 dollars per ounce, marking its sixth consecutive day of gains today, Tuesday. In the latest dealings, gold increased by 0.5 percent to reach 3494 dollars per ounce.

Meanwhile, silver rose by 0.2 percent, nearing the highest level it has seen in 14 years as recorded on Monday.