26
January
Gold Declines, Reversing Gain, as Dollar Rebound Saps Demand
26 January 2010 Bloomberg.com
Gold fell in London as a stronger dollar curbed the metal’s appeal as an alternative asset and as some investors sold bullion to cover losses in equity markets. Other precious metals dropped.
The dollar climbed as much as 0.6 percent against the euro and European equities posted the longest losing streak in more than six months on speculation China will take further steps to cool its economic growth, curbing demand for higher-yielding assets. Gold typically moves inversely to the dollar.
http://www.bloomberg.com/apps/news?pid=20601116&sid=aksMgKspnPmI
