9
November
Gold Climbs to Record as Weaker Dollar Boosts Investment Demand
9 November 2009 Bloomberg.com
Gold climbed to a record in London and New York as a weaker dollar prompted investors to buy bullion as an alternative investment.
The dollar slumped as much as 0.9 percent against a basket of six major currencies after the Group of 20 governments agreed to keep stimulus measures and remained silent on the greenback’s decline this year. Gold jumped 5.4 percent in the past month in London as the Dollar Index slipped 1.6 percent and as news last week of an Indian government bullion purchase raised speculation that other countries will follow suit.
http://www.bloomberg.com/apps/news?pid=20601116&sid=aKD03C0nUie4
