Dollar Shatters Records; Gold Falls
NEW YORK — The dollar shattered records Monday in a broad and powerful advance that analysts said was fueled by a belief that interest rates have bottomed out in the United States.
Despite central bank intervention, the dollar rose to new highs against the currencies of France, Italy, Spain, Australia and Norway, and climbed to a 13-year high against the Dutch guilder, a 12-year high against the West German mark and a seven-year high against the Swiss franc.
Gold prices fell on bullion markets around the world. At Republic National Bank in New York, gold bullion was bid at $302 an ounce as of 4 p.m. EST, down $1 from the late bid Friday.
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