Gold Declines as Dollar Rebound From One-Year Low Curbs Demand
Sep, 21, 2009 | Bloomberg.com
Gold fell, cooling a rally that sent prices above $1,000 an ounce this month, as a rebound in the dollar curbed demand for precious metals as a hedge against inflation.
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“With all the talk of ‘green shoots,’ people are beginning to worry about the long-term prospects for inflation,” said Mark O’Byrne, the managing director of broker GoldCore Ltd. in Dublin. “There’s also a worry about debasement of currencies, primarily the dollar.”
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