25
May
Gold Drops as Investors Favor Dollar, Unwind Futures Positions
25 May 2010 Bloomberg.com
Gold weakened as traders unwound positions before futures expire this week and on speculation that some investors favor holding the dollar as Europe’s fiscal crisis deepened.
Gold for immediate delivery slid as much as 0.5 percent to $1,185.45 an ounce before trading at $1,188.55 an ounce at 9:35 a.m. in Singapore. The contract for June delivery in New York fell 0.5 percent to $1,188.60 an ounce.
http://www.bloomberg.com/apps/news?pid=20601012&sid=afKx6O5d7JXU
