30
November
Gold Extends Drop From Record as Some Investors Lock in Gains
30 November 2009 Bloomberg.com
Gold declined for a third day on speculation that some investors locked-in gains from a rally to a record last week, as news of Dubai World’s plan to delay loan payments rattled global markets.
Bullion slumped as much as 4.2 percent on Nov. 27 after the Dollar Index, a six-currency gauge of the dollar’s value, jumped 1 percent, aided by haven demand. The U.A.E. central bank said it “stands behind” the country’s local and foreign banks, which would face losses from Dubai World’s possible default.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a5_Vd0zNmfqI
