VOA标准英语2009年-Gold Hits Record High as US Dollar Weakens

By Michael Bowman
Washington
06 October 2009

 
Gold coins and bars at California Numismatic Investments in Inglewood, California (file photo)
Officials in several Middle Eastern capitals are denying a published report that petroleum¹ producing countries and other nations are plotting to replace the U.S. dollar as the dominant² currency in global oil pricing. The denials have not prevented the dollar from weakening against other major currencies, while oil prices rose and gold reached an all-time high.

Already battered³ by a weak U.S. economy and a rising tide of American indebtedness, the U.S. dollar suffered a blow at the hands of a British newspaper. The Independent reported Tuesday that several Arab states, along with China, Russia and a number of other countries, were holding secret meetings on a plan to end the worldwide pricing of oil in dollars and replace it with a basket of currencies.

Finance and energy officials in several oil-rich Middle Eastern nations flatly denied the article. The Associated Press quoted a spokesman for Russian Prime Minister Vladimir Putin as saying the report is "not serious".

But the damage might already have been done. The dollar fell against other major currencies, including the Euro and the Japanese Yen⁵. The newly-weakened dollar helped push up commodity prices. Oil rose above $71 a barrel, while gold reached a new record-high, selling at more than $1,040 an ounce.

This is not the first time that the future of the dollar as the world's preeminent⁶ currency has been questioned - not only in oil pricing, but also as the world's reserve currency.

But former U.S. Deputy Treasury⁷ Secretary Roger Altman says speculation⁸ about replacing the dollar is premature⁹.

"The dollar is going to remain the primary reserve currency around the world for the foreseeable future," Altman said. "I really do not think there is any doubt about that. And the reason is that there is no alternative to the dollar."

Altman spoke⁴ on Bloomberg Television. The former deputy treasury secretary added, however, that real challenges do exist to the health and strength of America's currency. 

"The issues around the dollar are not so much what OPEC [Organization of the Petroleum Exporting Countries] will do, but rather the more fundamental questions, which have to do with the economic outlook in the United States and, of course, the fiscal¹⁰ picture in the United States, which is a very threatening one," Altman said.

On Tuesday, Australia became the first industrialized nation to raise interest rates since last year's financial crisis, causing the Australian dollar to rally.

Federal Reserve Chairman Ben Bernanke has said he does not foresee raising U.S. interest rates from record lows in the near future.

1 petroleum   

n.原油，石油

参考例句：

• The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
• The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。

2 dominant   

adj.支配的，统治的；占优势的；显性的；n.主因，要素，主要的人(或物)；显性基因

参考例句：

• The British were formerly dominant in India.英国人从前统治印度。
• She was a dominant figure in the French film industry.她在法国电影界是个举足轻重的人物。

3 battered   

adj.磨损的；v.连续猛击；磨损

参考例句：

• He drove up in a battered old car.他开着一辆又老又破的旧车。
• The world was brutally battered but it survived.这个世界遭受了惨重的创伤,但它还是生存下来了。

4 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。

5 yen   

n. 日元；热望

参考例句：

• He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
• He has a yen to be alone in a boat.他渴望独自呆在一条船上。

6 preeminent   

adj.卓越的，杰出的

参考例句：

• Washington was recognized as the preeminent spokesman of American Negroes by 1895. 到1895年,华盛顿被公认为美国黑人的卓越代言人。
• He is preeminent because his articles are well written. 他的文章写得很漂亮,卓尔不群。

7 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

8 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

9 premature   

adj.比预期时间早的；不成熟的，仓促的

参考例句：

• It is yet premature to predict the possible outcome of the dialogue.预言这次对话可能有什么结果为时尚早。
• The premature baby is doing well.那个早产的婴儿很健康。

10 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。