LONDON — Gold prices rose above $1,000 per ounce today — the highest since March 2008 — suggesting investors are wary of the U.S. dollar's weakness and expect international interest rates to remain low for some time.

The gold contract for October delivery traded up $10.10, or 1 percent, at $1,005.60 per troy ounce in midday European trading on the London Metals Exchange.

Gold is typically bought as an alternative to the dollar among safe-haven assets favored by investors seeking to preserve capital. So its rise often correlates to a drop in the value of the American currency.

That is what happened in spring 2008, when gold was last above $1,000 and worries about the financial crisis brewing in the U.S. were hurting the country's currency.

The dollar fell to 92.29 yen today from 93.05 yen the night before and slid to $1.4434 against the euro from $1.4332 as stock markets rose and investor sentiment improved.