30
August
Gold Declines After Four Weeks of Gains as Bernanke Pledge Spurs Selling
30 August 2010 Bloomberg.com
Gold fell on speculation that four weeks of gains are prompting some investors to sell their holdings after Federal Reserve Chairman Ben S. Bernanke pledged to safeguard the economic recovery.
Gold for immediate delivery weakened as much as 0.3 percent to $1,234.60 an ounce before trading at $1,235.97 at 12:38 p.m. in Singapore. The metal has climbed 4.6 percent in the past month as investors sought protection amid growing evidence that the global economy is sputtering.
