27
October
Gold Drops First Day in Four on Dollar; Palladium Rises to Nine-Year High
27 October 2010 Bloomberg.com
Gold declined for the first time in four days in London as a stronger dollar curbed demand for the metal as an alternative investment. Palladium dropped from a nine-year high.
The dollar rose to a one-week high against the euro amid speculation increased debt purchases by the Federal Reserve will help revive economic growth. Gold, which usually moves inversely to the greenback, has fallen 3.9 percent since reaching a record $1,387.35 an ounce on Oct. 14.
