12
February
Gold Falls, Paring Weekly Gain, as Dollar Gains on Greece Woes
12 February 2010 Business Week
Gold declined, paring its first weekly advance in five, on speculation the dollar will strengthen against major global currencies as the European Union struggles with fiscal deficits in member states. Gold for immediate delivery slipped 0.5 percent to $1,090.52 an ounce at 1:45 p.m. in Singapore, after jumping 2.2 percent yesterday. The metal has gained 2.3 percent this week. The euro traded near a one-week low against the dollar after the EU stopped short of offering concrete steps to help Greece following a summit yesterday.
