13
November
Gold Heads for Second Weekly Gain as Weaker Dollar Spurs Demand
13 November 2009 Bloomberg.com
Gold climbed in London, heading for a second weekly gain, as a weaker dollar boosted demand for the precious metal as an alternative investment.
The dollar slid against the euro before a report today that may show Europe’s gross domestic product expanded for the first time in six quarters. Bullion usually moves inversely to the U.S. currency. Gold reached a record $1,123.38 an ounce yesterday before slipping 1.2 percent, the most in more than two weeks. The metal is up 1.4 percent this week.
http://www.bloomberg.com/apps/news?pid=20601116&sid=a8S6ryGy7674
