Gold tops $960 for first time in two months as dollar weakens

Gold futures rose Friday for a fourth-straight session, briefly topping the $960-an-ounce mark for the first time in nearly two months as the U.S. dollar weakened against its major rivals on concerns over the U.S. credit rating.

[efoods]Gold for June delivery rose to as high as $963.10 an ounce in early morning trading, topping $960 for the first time since March 19. It was last up $6.30, or 0.7%, to $957.50 on the Comex division of the New York Mercantile Exchange. The metal is set to end the week up nearly 3%.

The greenback fell Friday to the lowest level in four months against the euro as worries increased that the U.S. could lose its triple-A credit rating.

Standard & Poor’s Ratings Service Thursday warned Britain that it may lose its triple-A rating, triggering a drop in U.K. bonds and sparking global fears about sovereign credit ratings. In the U.S., 10-year Treasury bonds fell below a crucial level.

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