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By Natsuko Waki Natsuko Waki – Mon Nov 16, 4:40 am ET LONDON (Reuters) – World stocks rose on Monday while gold, oil and other commodities rallied as upbeat economic data and a weakening dollar underpinned raw material prices and related shares. Friday’s data showing a wider U.S. trade deficit and weaker consumer sentiment weighed on the dollar, which is already under pressure from expectations that the Federal Reserve will leave interest rates near zero for some time to come. A weaker U.S. currency encourages investors to buy dollar-priced commodities, which also benefit from expectations for a strong global economic recovery. Data on Monday showed Japan’s economy grew 1.2 percent in July-September from the previous quarter, its fastest pace in more than two years, as stimulus lifted consumer spending and capital spending rose. “The (stock) market is on an uptrend which could easily take the market another 10 to 15 percent higher till the year end. We are basically in the midst of an
Gold hits record high, Asian shares rise Gold hit another record high yesterday with investors continuing to buy the precious metal as a hedge against further falls in the US dollar. The new high watermark of $1,117.05 a troy ounce comes after the US dollar slipped for a third consecutive day, registering a 15-month low. The record comes after months of strong trading with investors seeking a safe haven from fragile equity markets and a historically weak US dollar, caused by low interest rates. Racing ahead over the past month, the closing spot price had risen from $999 on 1 October to hit a previous high of $1,064 on 13 October. Since then, prices had fallen to between $1,055 and $1,060. In the last year, bullion has jumped more than 23 per cent, with the rally expected to go on into next year given the outlook for continued weakness in the dollar, especially with the US government looking to keep interest rates low in a bid to stimulate the economy. Since Lehman Brothers’ collapse la
