Gold edged up to US$1,018.85 (RM3,566.70) an ounce due to Gulf oil report














The dollar skidded against the euro and the yen today after a British newspaper reported that Arab states were in talks to end using the dollar for oil trading, but Asian shares rose as US services sector data lifted investors’ mood.

The dollar slid to about US$1.4709 against the euro, from US$1.4664, and to as low as 88.97 yen, from 89.40, after the report in Britain’s Independent newspaper.

Citing unidentified sources, the paper said Gulf Arab states were in secret talks with Russia, China, Japan and France to replace the dollar with a basket of currencies and gold for trading in oil within nine years.

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