THE SPOT PRICE of physical gold rose Wednesday lunchtime in London, cutting yesterday’s 2.6% loss in half as world stock markets also bounced hard.

The dollar has made a surge against the Euro and Pound, along with several other major currencies, in the last few days. Even as the Dow fell sharply below 7,000 points, closing at 6,726 Tuesday (March 3), the dollar remains poised to break through near-term highs against its European counterparts.

THE SPOT PRICE OF PHYSICAL GOLD back half of an early Asian bounce Monday morning, recording its first London Gold Fix of March at $949.50 per ounce.

The dollar has been steadily climbing against most other major currencies in the last few weeks. The greenback is certainly not making miraculous gains but it has held firm and pushed back against rough economic odds. The $789 economic stimulus plan finally went through Tuesday (February 17), but investors did not appear impressed as the Dow dropped by nearly 300 points.

Crude oil settled below $34 per barrel for the first time in two months on Thursday (February 12). Crude fell to $33.98 after falling by $1.96 during New York trade.

The Dollar initially lost ground yesterday but recovered in late trading as forex markets shrugged off a delay to the much anticipated U.S. bank bailout announcement.