18
December
Gold Climbs in London as Weaker Dollar, Decline Lures Buyers
18 December 2009 Bloomberg.com
Gold gained in London, paring a third weekly decline, as a weaker dollar prompted investors to buy bullion after the metal’s biggest drop in almost two weeks.
Bullion yesterday fell below $1,100 for the first time since Nov. 10 and dropped 3.4 percent, the most since Dec. 4, as the U.S. Dollar Index rose to a three-month high. The index, a six-currency gauge of the greenback’s value, fell as much as 0.4 percent today. Gold has dropped 9.9 percent since climbing to a record $1,226.56 an ounce on Dec. 3.
http://www.bloomberg.com/apps/news?pid=20601116&sid=aFhTpouOba9M
