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Today's Oil, Gold, and Currency News

Oil $86/bbl; Gold $760/oz

2007-10-15 - By Luke Burgess

Oil Hits $86 on Turkey Tensions
BBC
Global oil prices have surged to fresh highs after increased tensions between Turkey and Kurdish rebels in northern Iraq and concerns over production.
Read more: http://news.bbc.co.uk/2/hi/business/7044937.stm

Oil Closes Above $86 a Barrel
The New York Times
Oil prices rocketed past $86 a barrel Monday as tensions in the Middle East and uncertainty about the direction of the American economy pushed prices to record levels.
Read more: http://www.nytimes.com/2007/10/16/business/worldbusiness/16oil.html?ref=business

OPEC Raises Forecast for Oil Demand
International Herald Tribune
The price of a barrel of oil crashed through $85 on Monday for the first time as leading oil exporters said it was increasingly likely that the United States would dodge a recession - ensuring that U.S. demand would help keep the cost of crude high.
Read more: http://www.iht.com/articles/2007/10/15/business/opec.php

Fundamentals Could Brake Oil Before it Hits $100
Reuters
The latest rally driving oil to fresh records is likely to face fierce resistance from supply-and-demand fundamentals before it reaches $100 a barrel.
Read more: http://www.reuters.com/article/reutersEdge/idUSN1560093920071015

Gold Futures Top $760 to Trade Near a 28-year High

MarketWatch
Gold futures climbed more than $8 an ounce Monday, sending the December contract to the highest level a front-month futures contract has seen since 1980.
Read more: http://www.marketwatch.com/news/story/gold-tops-760-approach-28-year/story.aspx?guid=%7B00420DF2-DBEC-4F01-B694-4C419B2B7003%7D

Gold Surges to $760 on Dollar Weakness, Geopolitical Tensions
CNN Money
Gold surged to 760 usd an ounce as the dollar languished near record lows against the euro, and as mounting tensions between Turkey and Kurdish rebels in northern Iraq sparked safe haven buying and took oil into record territory.
Read more: http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-20242533.htm

Gold Imports Likely to Jump 17%
The Economic Times
Gold imports are likely to surge 17 per cent to over 840 tonnes as compared to 715 tonnes last year.
Read more: http://economictimes.indiatimes.com/Market_News/Gold_imports_likely_to_jump_17_pc/articleshow/2461032.cms

Euro Higher Against Dollar, Tops US$1.42
International Herald Tribune
The euro traded higher against the U.S. dollar on Monday, regaining ground it lost late last week and moving back above the US$1.42 mark.
Read more: http://www.iht.com/articles/ap/2007/10/15/business/EU-FIN-MKT-Euro-Dollar.php

Canada's Dollar Near 31-Year High Before Interest-Rate Meeting
Bloomberg
Canada's dollar fell from a 31-year high versus the U.S. currency before a Bank of Canada meeting tomorrow.
Read more: http://www.bloomberg.com/apps/news?pid=20601082&sid=aw3ENdKUfQqQ&refer=canada