1
December
Gold Gains on Haven Demand as Europe Crisis Lingers; Euro Price at Record
1 December 2010 Bloomberg.com
Gold gained for a third day, climbing to the highest level in more than two weeks, as concern about Europe’s debt crisis boosted demand for a protection of wealth and as the dollar weakened.
The dollar slipped from the highest level in more than two months against the euro amid speculation European Central Bank policy makers meeting tomorrow may signal their willingness to act to prevent the spread of the region’s debt woes. Gold, which usually moves inversely to the greenback, reached a record $1,424.60 an ounce on Nov. 9. The metal climbed to an all-time high priced in euros.
