22
June
Gold Advances After Biggest Decline in a Month on Strong Investment Demand
22 June 2010 Bloomberg.com
Gold rebounded from the biggest slide in a month in London as speculation that European banks will struggle to raise money boosted demand for the precious metal as a means of protecting wealth.
The metal dropped 1.8 percent yesterday after reaching a record $1,265.30 an ounce. European Central Bank governing council member Christian Noyer yesterday said some banks in the 16-nation euro region face funding difficulties. European equities fell for the first time in 10 days.
