13
July
Gold Advances as Prices of Less Than $1,200 Increase Investors' Interest
13 July 2010 Bloomberg.com
Gold rebounded from the biggest decline in almost a week in London as a downgrade of Portugal’s credit rating and prices below $1,200 an ounce boosted physical buying and investment demand.
Portugal’s credit rating was cut two notches to A1 at Moody’s Investors Service because of a growing debt burden and weak economic growth prospects. Gold dropped 1.2 percent yesterday to close at less than $1,200 an ounce.
