29
November
Gold Declines for Second Day as Korean Tensions Drive U.S. Currency Higher
29 November 2010 Bloomberg.com
Gold may fall in London after the dollar rebounded against the euro, curbing demand for the metal as an alternative investment.
The dollar traded near a two-month high against the euro as European governments handed Ireland an 85 billion-euro ($113 billion) aid package. The U.S. currency has gained as concern that military action on the Korean peninsula will escalate boosted demand for the dollar as a refuge. Gold, which typically moves inversely to the greenback, reached a record $1,424.60 an ounce on Nov. 9.
