Gold and silver prices climbed to their highest in seven weeks on Monday, as the dollar’s slide to its lowest since mid-December boosted interest in hard assets.

Spot gold hit an intra-day high of $961.00 an ounce, its highest since June 11, and was bid at $959.10 an ounce at 1329 GMT, against $953.90 an ounce late in New York on Friday.

U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange rose $5.70 to $959.40 an ounce.

“At the moment we’re seeing the dollar as the key factor to movements in the gold market,” said Eugen Weinberg, senior analyst at Commerzbank.

“In the past few months (gold) has gone from being a safe haven to becoming a dollar play. The dollar right now is so weak because no one is looking for a safe haven — because corporate results are so good and stock markets are performing so well.”

Silver was

Cereplast, Inc. announced this morning that the company has received financing from a European group of investors led by a major bank in Sweden. The company will use the funding to implement its new strategic plan to accelerate growth as well as finance manufacturing supply agreements for the company’s major customers.

“The additional capital allows us to move forward aggressively in a very challenging economic environment,” stated Frederic Scheer, Chairman and CEO of Cereplast. “This investor group clearly understands the rapidly growing market opportunity for bio-plastics and has endorsed our business model that leverages our proprietary product development capabilities and marketing strengths.”

“The new licensing structure has the potential to help Cereplast land contracts with large packaging companies, which require large quantities of resin in a short time,” commented Rene Nicolodi, senior sustainability analyst at Zuercher Kantonalbank (Zurich Cantonal Bank), which began looking at Cereplast two years ago as a

Gold steadied today,  Tuesday, erasing earlier gains, as the dollar recovered lost ground against a basket of currencies, reducing the precious metal’s appeal as an alternative asset.

Traders are awaiting fresh direction from the foreign exchange markets after a meeting of G8 leaders later this week.

Spot gold was bid at $922.65 an ounce at 1544 GMT, against $924.00 an ounce late in New York on Monday, having earlier touched a high of $931.55.

U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange eased $1.20 to $923.10 an ounce.

With physical demand sluggish despite a price dip, the gold market is largely being driven by currency moves, traders said.

The precious metal edged lower on Tuesday as the dollar  recovered earlier losses against a basket of currencies. The euro, which was earlier lifted by better-than-expected German factory orders, retreated to turn lower.

“The pick-up in the dollar has put some pressure

Dollar firms vs euro; ECB seen cutting rates by 50 bp… Oil slides as demand woes outweigh U.S. stockpile dip… ZKB platinum ETF holdings rise 27 pct

Gold slipped in Europe on Thursday as the dollar firmed against the euro ahead of an expected rate cut by the European Central Bank later in the session, and oil prices fell $1 a barrel.

Investors are eyeing rate cuts this session from both the ECB and the Bank of England and key U.S. jobs data on Friday for clues as to the future direction of trade.

Spot gold slid to $769.25/771.25 an ounce at 1000 GMT from $772.60 an ounce in New York late on Wednesday.

“With a lower euro-dollar and lower oil, gold is pressured a bit,” Commerzbank senior trader Michael Kempsinki said. “Around $735, $750, we should see some good buying interest coming into the