28
April
Gold May Advance as Investors Seek Haven From Currencies Slump
28 April 2010 Bloomberg.com
Gold fell from the highest level in more than four months on speculation that the International Monetary Fund will provide more aid to Greece, triggering a rebound in the euro and damping haven demand for the metal.
Bullion for immediate delivery lost as much as 0.4 percent to $1,163.75 an ounce and was at $1,164.10 at 1:29 p.m. in Singapore. Gold jumped to $1,172.30 yesterday, the highest price since Dec. 4, as investors sought a hedge against a decline in most major currencies. The metal reached records in euros, sterling and the Swiss franc yesterday, gaining even as the dollar climbed.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aXEymIlvJhfM
