8
July
Gold Climbs After Decline to Lowest in Six Weeks Boosts Buyers' Interest
8 July 2010 Bloomberg.com
Gold fluctuated near $1,200 an ounce in London on speculation that the metal’s drop to the lowest level in more than six weeks is prompting some investors to increase holdings.
The metal fell to $1,185 an ounce yesterday, the lowest price since May 24, before rebounding to close above $1,200. The dollar slipped to the lowest level against the euro since May 12 today, while European equities rose as the International Monetary Fund raised its 2010 global growth forecast to 4.6 percent from 4.2 percent and on speculation tests on banks will ease concern about the health of the financial system.
