Aust dollar pushing US93c

Local currency continues upward tilt, buoyed by surge in gold prices.

The Australian dollar has continued pushing toward 93 US cents on healthy gold prices and weakness in the US currency.

At 0630 AEST, the local unit was trading at 92.96 US cents, up from 92.59 cents on Tuesday.

The Australian dollar has spent much of the week above 92 US cents, kick-started on Friday night when China's central bank said it would lift controls on lending interest rates and allow financial institutions to set them.

Yesterday, gold futures posted their biggest percentage gain in more than a year and the US received some weaker-than-expected home sales figures, both of which gave the Aussie a boost.